CNR International is preparing to invest approximately £300m to extend the life of one of the oldest fields in the North Sea after the UK government approved an application for a Brownfield Allowance for the project.
The oil and natural gas operator said the decision to grant the allowance for its Ninian Field will create jobs, add reserves and bolster Ninian’s economic life. The Brownfield Allowance scheme provides tax incentives for investment in existing North Sea fields which meet government criteria, designed to enable projects that are economic but non-commercial to proceed.
The company plans to drill four new production wells and four new injectors, conduct two well upgrades and invest in the platform. This major programme of work will extend the life of the Ninian field, enabling an incremental 27 million barrels of oil equivalent to be produced.