The oil project Bestla in Norway has taken a key step by initiating drilling of the first of two planned production wells. The operation began on August 4 from the previously installed Bestla subsea template using the Deepsea Yantai rig, a sixth-generation semi-submersible unit managed by Odfjell Drilling.
Designed to operate in extreme conditions and at depths of up to 1,500 meters, the Deepsea Yantai has been key to offshore operations in Norway since 2022.
Subsea connection to the Brage field
The drilling is part of a subsea development strategy that will connect the Bestla field to existing infrastructure at the Brage field, located 13 kilometers away. The latter will act as the main facility for the production, processing and export of crude oil. export of the crude oil extracted. extracted.
The field is estimated to contain recoverable reserves of 24 million barrels of oil equivalent.
Participations and collaboration in the Bestla project
OKEA ASA leads the operation as operator of the PL740 license, with a 39.2% interest. Partners include DNO Norge (39.2%), Lime Petroleum (17%) and M Vest Energy (4.4%). Lime’s interest in the Brage field is 33.8%, consolidating its presence in this region of the North Sea.
Likewise, the Development and Operation Plan (DOP) was approved in November 2024, following its submission to the Norwegian Ministry of Energy in April of the same year. The allocated budget amounts to NOK 6.3 billion, equivalent to about US$571 million.
Lime Petroleum CEO Lars B. Hübert, emphasized that the project uses proven technology and standard solutions in cooperation with strategic partners. The break-even point is estimated at around $40 per barrel, which strengthens its viability in a context of volatile prices.
Crude oil extraction is scheduled to begin in early 2027, making Bestla a major player in Norway’s offshore energy developments, thanks to its integration with existing infrastructure and collaboration between regional operators.
Source and internal photo: Rex International Holding
Main photo: Odfjell Drilling
