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Norway permits one of Russia’s richest man to develop Dvalin gas field

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Norway permits one of Russia’s richest man to develop Dvalin gas field

The Ministry of Oil and Energy of Norway has approved a plan for the development and exploitation of Dwalin gas field located in the Norwegian Sea, which belongs to DEA company owned by Mikhail Fridman, a Russian famous entrepreneur.


We should remind you that recently Forbes magazine published its annual rating of world’s billionaires, according to which, Mikhail Fridman entered the Top 10 wealthiest people in Russia.

“This approval is an important milestone for Dvalin project, and we are determined to develop the project and start production in 2020”, — a managing director of DEA Norge, Hans-Hermann Andreae, commented the Ministry’s decision.

Previously, the company announced that it would invest 10 billion Norwegian krone, that is $1.25 billion, in the development of this gas field.

The Dvalin gas field was discovered in 2010, and now it is DEA’s first own operated field development project in Norway.

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