OMV, partners to invest $921 million in Berling gas field off Norway

OSLO - Austria's OMV and its partners have decided to invest 9.1 billion Norwegian crowns ($921 million) to develop the Berling gas and condensate discovery off Norway, the Norwegian energy ministry said on Wednesday.

The discovery previously called Iris-Hades is located about 20 kilometres northwest of the Aasgard field in the North Sea and will be developed with a subsea facility tied back to Aasgard B platform.

The production is expected to start in 2028 with natural gas piped to the Kaarstoe gas processing plant for further exports to Europe.

OMV, which operates the field, holds a 30% stake in the license, Norway's Equinor has 40%, DNO 20% and Sval Energi 10%.

($1 = 9.8833 Norwegian crowns)