Aug. 2012 - DONG Energy is continuing to develop the Oselvar field, in Production License 274, in the Norwegian sector of the North Sea. Production from the field commenced in April, but the production ramp up has been slower than expected, stated Noreco, a partner in the field. The third and final production well was completed and tested in June, and the drilling rig has left the location. The field is currently producing from two wells and the third well is expected to come online during 3Q 2012. Thus far, the field has produced on average of 3,608 boepd.

Feb. 2012 - Dong E&P Norge received consent to use a subsea facility and pipeline on the Oselvar field. Production is scheduled to start in March 2012. The Gaupe field is estimated to hold 28 million barrels of oil equivalent. Production is slated to commence on April 1, 2012. Located on the Norwegian continental shelf, the Oselvar field is close to the UK border and is situated on Production License 274 in 72 meters (236 feet) of water.

May. 2011 - Faroe Petroleum has acquired an 18% interest in the Blane oil field from Eni UK Limited and Eni ULX Limited. The transaction is set to add about 1,900 barrels boepd to Faroe's production. Faroe reported that this transaction is in line with their strategy to grow and strengthen the production base towards funding their ongoing exploration program. The Blane oil field is located on Block 30/3a on the Central Graben of the UK Continental Shelf. Joint venture partners in the field are Talisman Resources (43.0% and operator), Roc Oil (12.5%), Nippon Oil (14.0%) and Dana Petroleum (12.50%).

May. 2011 - Dong E&P Norge received consent to use the Maersk Giant jackup to drill development wells on the Oselvar field. The rig will drill three horizontal development wells (1/3-A-1H, -2H, -3H) on Oselvar, which should take about 305 days. According to the plan, production from Oselvar will be routed to Ula, which also receives production from the Tambar and Blane fields, towards the end of 2011. Ula is expected to produce until 2028. Located on the Norwegian continental shelf, the Oselvar field is close to the UK border and is situated on Production License 274 in 72 meters (236 feet) of water.

Oct. 2010 - Faroe Petroleum has agreed to acquire an 18% interest in the producing Blane oil field from Eni. The payment of US $95 million (£60 million) will be funded from cash and bank debt drawn against Faroe's borrowing base facility. As part of the transaction, the company will farm out a 20% interest in the Atlantic Margin Rannva exploration licenses (Faroese Licenses 012 and 017, and UKCS license P.1740) at the Faroe and UK border under "promoted terms". These prospective licenses span 690,412 acres (2,794 square kilometers) and are located in 1,640 feet (500 meters) of water, about 106 miles (170 kilometers) west of the BP-operated Schiehallion oil field. The Rannva licenses, which are wholly owned and operated by Faroe, contain two giant prospects along the axis of the Wyville-Thomson Ridge - one of the largest un-drilled anticlines in Northwest Europe, stated the press release. Currently, technical work is being performed in these licenses to define a well location. The Blane oil field is located on Block 30/3a on the Central Graben of the UK Continental Shelf. Joint venture partners in the field are Talisman Resources (43.0% and operator), Roc Oil (12.5%), Nippon Oil (14.0%) and Dana Petroleum (12.50%).

Jun. 2010 - Production has shut down on the Blane oil field to perform maintenance on the field's production system. Production from the field will be closed for most of June. Blane is located in the Norwegian sector of the North Sea in 230 feet (70 meters) of water. Talisman Energy Limited operates the field.

Dec. 2009 - BP awarded an EPCI contract to Aker Solutions for a tie-back from Oselvar to the Ula platform in 230 feet (70 meters) of water in the North Sea. The tie-back will transport oil and gas 15 miles (24 kilometers) from the Dong-operated Oselvar field to BP's Ula platform for processing - oil will be processed at the platform and gas will either be reinjected or exported via pipeline to the Gyda and Ekofisk facilities. The scope of work includes engineering, procurement, fabrication of module and other minor components, installation offshore and commissioning assistance. Oselvar's field development plan consists of three subsea horizontal production wells to be drilled and connected to Ula. The field is expected to commence production in the fourth quarter of 2011.

Sep. 2009 - Technip was awarded by DONG E&P Norge AS an engineering, procurement, construction and installation lump sum contract for the Oselvar field development. This field is located on the Norwegian Continental Shelf, 155 miles (250 kilometers) offshore Norway, at a water depth of 236 feet (72 meters). The contract covers turnkey delivery of an approximately 17 mile-long (27 kilometer-long) pipe-in-pipe flowline, installation of an umbilical and subsea equipment and tie-ins.

Jun. 2009 - Norwegian authorities today approved the plan of development and operation for the Oselvar development. The Oselvar field is expected to start producing in 2011, and the field's reserves are estimated to be 52 million boe. There is also further exploration potential from identified prospects in the license. Located on the Norwegian continental shelf, the Oselvar field is close to the UK border and is situated on Production License 274 in 72 meters (236 feet) of water.

Jun. 2009 - Aker was awarded an EPC contract by DONG, as operator of the Oselvar field, to deliver a complete subsea production system to the North Sea field development. Scope of work includes EPC of a four-slot template with manifold, three subsea trees, control systems, subsea wellheads and 17 miles (28 kilometers) of steel tube umbilicals. The Oselvar field is situated in a water depth of 230 feet (70 meters). The subsea production system will be tied-back to the BP-operated Ula platform, located 14 miles (23 kilometers) from Oselvar.

Mar. 2009 - The development plan for Oselvar has been submitted to Norwegian authorities. Three subsea horizontal production wells will be drilled and connected via a multi-phase pipeline to the Ula platform for further processing. Located on the Norwegian Continental Shelf, Oselvar is expected to start producing in Q411. Dong serves as the operator of PL274.

Oct. 2008 - The Petroleum Safety Authority (PSA) audited BP Norge AS' safeguarding of technical integrity for loadbearing structures on Ula during the period of May 14-30, 2008. Nonconfirmities were uncovered during the audit resulting in a notification of order issued to BP by the PSA.

Sep. 2008 - Bergen Group, through its subsidiary Bergen Group Rosenberg, was awarded a contract regarding fabrication and installation of structures on the Ula Platform. The contract has an estimated value of NOK 15 -20 million.

Aug. 2008 - BP announced that the recently awarded Platform Drilling Contract with Seawell Norge AS is for a 5-year term, plus option periods, for all BP Norge's platform facilities. In addition to this Seawell Norge is also going to execute the work for the Ula platform rig ready for operations refurbishment.

Jul. 2008 - Roc Oil says that Blane oil field's gross production averaged 13,482 BOEPD (ROC: 1,685 BOEPD); down 15% compared to the previous quarter. While field production capacity remains close to the field's initial plateau production rate, production was down during the Quarter due to a number of planned downtime events including approximately 13 days shut down for the works on the Ula platform and drilling rig movements.

Jan. 2008 - The Oselvar structure was discovered in the 1990s. PL 274 was awarded to DONG in 2002. Oselvar is located 20 km west of the Gyda Field in southern North Sea. 1/3-10 is the third well that has been drilled on the Oselvar discovery.

Jan. 2008 - The 1/3-10 well objectives were to investigate reservoir deliverability and to acquire fluid samples for fluids characterisation. It was drilled to a total depth of 3,288 metres and stopped in sediments of Early Paleocene age. The reservoir thickness and the expected reservoir characteristics were confirmed. The data collected proved oil/condensate and associated gas. The well was tested and the flowing rate was 530 Sm3 oil per day with a GOR of 476 Sm3/Sm3 and no water. In addition a down flank sidetrack, 1/3-10 A will de drilled directly following the test to establish the oil-water contact and for water sampling. The well will then be plugged and abandoned and BG Norge AS will take the Mærsk Guardian to continue drilling on the NCS.