The three North Sea developments of Catcher, Kraken and Nova are a key part of our strategy to build steady future cash flows to sustain the business model and fund future exploration and appraisal across the group.
Kraken and Catcher are two of the largest UK North Sea development projects and produced first oil in 2017. We hold a 20% non-operated Working Interest (WI) in the Catcher development and a 29.5% non-operated WI in the Kraken development. Peak net production to Cairn of ~25,000 barrels of oil equivalent per day is expected from the two developments.
We are also driving the Nova discovery towards development with a final investment decision planned in 2018. First oil is targeted in 2021 and expected to deliver gross plateau production of 50,000 bopd, ~10,000 bopd net to Cairn.