(OFFSHORENO) License owners at the Yme field have concluded that it is not prudent to go ahead with new developments. Now remaining equipment is removed and the wells plugged.

It writes TU.

As reported, license owners have long evaluated the possibility of an updated development plan, known as a PDO for the field. The objective has then been to identify a safe and profitable development, said Grethe Elise Foldnes, spokeswoman for the operating company Talisman.

After a thorough process, including the postponement of the original deadline, concluded the partnership that the project has the economic robustness that is necessary to defend a new development of the field and thus an updated PUD, she continues.

MPE has now given license owners permission to begin preparations for liquidation of the project.

This means that we now begin to plan the removal of the remaining installations on the field. This means that wells plugged, the subsea equipment is removed, and the production license is returned to the Norwegian authorities, says Foldnes to TU.

Yme is among history’s greatest industrial scandals in Norway. The expansion was due to cost 4.9 billion and started production in January 2009. Six years later, 14 billion invested, but the platform is unusable and must be scraped. The platform is planned to be moved away from the area later this summer.

As recently as May this year wrote offshore.no that co-owner of the license, Lotos, would develop Yme again.

Source: Offshoreno