The Norwegian Ministry of Petroleum and Energy has approved the Plan for development and operation for Kobra East & Gekko in the Alvheim area. The Operator Aker BP and licence partners ConocoPhillips Skandinavia and Lundin Energy Norway submitted the PDO to the Ministry in June last year. The KEG development will contribute to extend the lifetime of the Alvheim field, improve production and reduce unit costs. Total investments in the project are projected at around NOK 8 billion and production is scheduled to start in the first quarter of 2024. Recoverable reserves in KEG are now estimated at around 50 million barrels of oil equivalentsThe development comprises the two discoveries Kobra East and Gekko in licence 203. The field will be developed with subsea installations connected to the production vessel on the Alvheim FPSO, which is located in the Norwegian part of the central North Sea near the UK border.It is expected that CO2 emissions per barrel will be cut in half and oil production from the Alvheim FPSO will double when KEG comes on stream.