Cairn (through its subsidiary Capricorn) announced on 6 August 2019 that it had sold 10% of its interest in the Nova field to ONE-Dyas for the sum of USD 59.5 million. The field, currently under development with first oil due in September 2021, is covered by PL 378, PL 418 and PL 418 B. The deal sees ONE-Dyas take a 12.12% interest in PL 378 and 10% in both PL 418 and PL 418 B. Cairn stated that it will use the proceeds of the sale to fund exploration and development activities across its group portfolio. The deal was confirmed as complete on 4 December 2019 and is effective from 29 November 2019.  Nova was previously called Skarfjell and was discovered in 2012 by 35/9-7. Its reservoir is the Upper Jurassic Heather Formation. The discovery was appraised over the following year and the PDO was submitted in May 2018 (and received approval four months later). Operator Wintershall Dea intends to recover 77 MMboe from the field over an eight-year period using two 4-slot subsea templates (installed in May 2019) sited one kilometre apart (the northerly template will host three water injectors and the southerly one will have three producers). The templates will be tied back to Gjoa which lies approximately 16 km to the northeast. There is also provision for a third template with four more wells if needed. Gjoa will supply Nova with power (from shore), gas lift and water injection. Drilling of six wells will commence in H1 2020 and the installation of the other facilities will take place in 2019 / 2020. A new topsides module will be installed at Gjoa in May 2020 where processing will take place prior to export via the Troll oil pipeline to Mongstad. Maximum production is expected to be 50,000 boe/d and investment is estimated at NOK 9.9 billion (USD 1.23 billion). The field consists of three segments and the initial development relates solely to Nova Main, with the Southeast and East segments representing future upside potential.   Upon completion of the deal, interest in PL 378 is divided between Wintershall Dea Norge AS (75.76% + operator), Cairn through Capricorn Norge AS (12.12%) and ONE-Dyas Norge AS (12.12%) and interest in PL 418 and PL 418 B is held by Wintershall Dea Norge AS (45% + operator), Spirit Energy Norway AS (20%), Edison Norge AS (15%), Cairn through Capricorn Norge AS (10%) and ONE-Dyas Norge AS (10%).
Cairn (through its subsidiary Capricorn) announced on 6 August 2019 that it had sold 10% of its interest in the Nova field to ONE-Dyas for the sum of USD 59.5 million.