The Beta West satellite to Statoil's Yme field could come on stream in March if current plans are approved.
A plan for development and operation of the find, made in the northern part of the North Sea structure last year, is due to be considered by the Norwegian authorities in late October.
This project aims to produce an estimated 16 million barrels of recoverable oil via two subsea wells tied back to the template on the Yme Beta East satellite.
The wellstream would be piped from there to the Mærsk Giant production platform on Yme, which lies at the southern end of Norway's continental shelf.
Beta West is due to flow about 12,500 barrels of oil per day. The main Yme field currently produces some 45,000 daily barrels, reports operations manager Per Egeland.
A drilling rig is due to be chartered from next spring to drill and complete the Beta West production wells.
Statoil also has plans to explore for oil on the southern part of this structure while its northern extension is being developed, reports Mr Egeland.