The facility will have additional capacity to process and export output from other prospects in the area.
A feasibility study carried out by Statoil has identified a floating production unit as a viable technical and commercial solution to exploit the field.
Skrugard is estimated to hold recoverable resources of 250 million barrels of oil equivalent, but the Norwegian state oil company estimates there could be considerable upside potential.
Statoil has also lined up an appraisal at Skrugard with drilling using the semi-submersible Aker Barents once it has completed the Havis probe.
The vessel would have oil production capacity of 95,000 barrels per day, as well as separate crude storage and offloading capability.
The feasibility study envisages developing the field with 14 oil producers on the seabed and pressure support provided through injection wells for water and gas.
