New Dvalin Stakes Finalised

DEA, owned by Russia-backed fund LetterOne, said late January 10 it completed its acquisition of a 10% stake from Maersk Oil and another 5% from Edison in the Dvalin licence offshore Norway.

It added that Norwegian state Petoro has entered the Dvalin licence, completing its acquisition of 20% from OMV, 10% from Maersk and 5% from Edison. The new Dvalin partnership (PL435) is now DEA 55% and still operator, Petoro 35% and Edison 10%. 

Dvalin gas field, previously known as Zidane, was discovered in 2010 and is DEA's first own operated field development project in Norway.

Dvalin's planned development (Photo credit: DEA)

The field in PL435 is 15km northwest of the Heidrun field and 35km south of the Skarv field in the Norwegian Sea. 

Dvalin's development plan was filed in October 2016. First gas is expected in 2020 and it is planned to produce a total volume of some 18.2bn m3 gas from two reservoirs. The development cost is estimated to 1.1bn euros (10 billion kroner).

Mark Smedley