Letter of Intent to North Atlantic for Fenja Drilling
Wednesday 6 December 2017
VNG Norge on behalf of the PL 586 partners has issued a Letter of Intent (LOI) to North Atlantic Norway Ltd for the drilling rig “West Phoenix” for drilling of the development wells for the Fenja project in the Norwegian Sea.
The LOI covers six fixed development wells (three producers, two water injectors and one gas injector) on Fenja with drilling startup in 2020. In addition the LOI covers three optional wells before and three optional wells after the fixed period.
The final contract will be signed pending a final investment decision planned for later this month, and subject to the authorities’ approval of the Plan for Development and Operations (PDO).