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Oselvar - PL274/PL 274 CS

The Oselvar field is a satellite field, located 23 kilometres from the Ula production hub on the Norway/UK border.

Oselvar

Oselvar - PL274/PL 274 CS

Area Equity Partners Blocks
North Sea (NO) 55% equity Faroe (55% and operator)
Cape Omega (45%)
1/3, 1/2

Production from this field ceased in April 2018 as scheduled to allow parts of the Oselvar facilities to be reused to tie in the Oda development (Faroe 15%) to the Ula platform (Faroe 20%). The Oselvar group is being compensated by the Oda group for the loss of production.  In H1-2018 Faroe received the final instalments from the Oda partnership of £35.7 million, of which £7.4 million was accrued in 2017.