Germany’s Wintershall to invest $2.3 bln on Norwegian Continental Shelf fields

German-based oil and gas producer Wintershall has banked on growth in Norway and plans to invest a total of around 2 billion euros ($2.3 billion) in exploring and developing its fields on the Norwegian Continental Shelf from 2017 to 2020.

Wintershall plans to develop the Nova field, whose plan for development and operation was submitted in May this year.

Wintershall and its partners expect to invest a total volume of around $1.2 billion in the development of Nova.

This move distinguishes Wintershall from many major competitors in Norway. For 2019 alone, the company plans four new exploration wells. The execution phase for the Nova project already started in early summer and plans for a possible development of  Balderbrå prospect are also progressing.