Austrian group OMV and its partners have decided to invest 9.1 billion Norwegian kroner ($921 million) to develop a gas discovery off the coast of Norway, the Norwegian Ministry of Energy announced on Wednesday, Reuters reports.

OMV, the operator of the Berling field, has a 30% stake in this license, while the Norwegian company Equinor has a 40% stake, and DNO and Sval Energi have a 20% and 10% stake, respectively.

The Berling discovery, previously named Iris-Hades, is located approximately 20 kilometers northwest of the Aasgard gas field in the North Sea and will be developed thanks to a subsea facility that will be connected to the Aasgard B platform, according to Agerpres.

Gas production is expected to start in 2028, and the natural gas will be transported by pipeline to the Kaarstoe processing facility, from where it will be exported further to Europe.

In Romania, at the beginning of this month, OMV Petrom confirmed the submission of the declaration of commercial discovery to the National Agency of Mineral Resources by the holders of the Neptun Deep concession, this being a first intermediate step in the process of making the final investment decision, estimated for the middle of the year future.

OMV, the largest listed industrial company in Austria, owns 51.01% of OMV Petrom shares, and the Romanian state, through the Ministry of Energy, 20.64%.