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STAVANGER, Norway -- Statoil and its partners started production from Oseberg Delta 2 in the North Sea on Saturday. The field’s recoverable reserves are estimated at 77 MMboe.

The field, which is tied back to the Oseberg Field Centre, has been developed using two subsea templates with capacity for a total of eight wells.

The initial phase of the plan involves three oil producers and two gas injectors.

Arild Dybvig, V.P. for fast-track development projects in Development & Production Norway, said, “Delta 2 is an important element in extending the lifetime of Oseberg. It provides a good example of how we can make lesser discoveries profitable by using existing infrastructure while it is still available.”

The start-up of the first well is in line with the development plan and takes place 38 months after the discovery became part of the fast-track portfolio.

The total investment is slightly less than $920 million (NOK 7 billion), well below the estimated investment cost when the project was sanctioned.

Oseberg Delta 2 marks a further development on the Delta terrace where oil from two wells on an existing template has been produced since 2008.

Terje Gunnar Hauge, V.P. operations on Oseberg East, said, “The new development includes gas injection that will give us a substantially greater recovery rate. 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.”

The plan for development and operation was submitted to the Ministry of Petroleum and Energy on May 30, 2013.