Statoil starts up Oseberg Delta 2 field, on time, under budget

OSLO: Norwegian energy firm Statoil has started up production at its Oseberg Delta 2 development in the North Sea, expecting to produce around 77 million barrels of oil equivalents from the field, it said on Monday.

Completed at a cost of just under 7 billion crowns ($926 million), below initial plans for just under 8 billion crowns, the prospect will produce through wells tied into the Oseberg field center, Statoil said.

"There are also some good opportunities for the further development of the area and an exploration well has already been planned in the southern part of the Delta terrace," Statoil said in a statement.