pounds 580m oil project on cards
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Esso Norge, part of the Exxon US oil giant, has put forward plans to the Norwegian government for the $950m (pounds 580m) development of the Jotun field in the Norwegian sector of the North Sea.
The field, 100 miles off the west coast of Norway in 410 feet of water, is expected to start production in 1999, rising to an eventual peak of 80,000 barrels a day. Total recoverable reserves for the three oil reserves is put at 190 million barrels.
Assuming it wins the go-ahead from the Norwegian government, the development will be conducted in partnership with Enterprise Oil of the UK, Norway's Statoil and Conoco and Amerada Hess of the US. Esso Norge will have a working interest of over 40 per cent in the field and will oversee production as operator.
Separately, Esso Norge's parent, Exxon Corporation, announced that discoveries last year had added proven oil and gas reserves of more than 1.1 billion barrels of oil-equivalent, or 108 per cent of production.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments