Statoil presents $414 mln British-Norwegian field development

(Adds oil minister comments, detail)

Aug 9 (Reuters) - Statoil (LSE: 0M2Z.L - news)

* Presents plan for development and operation of the British-Norwegian Utgard natural gas, NGL and condensate field in the North Sea

* Utgard field investment estimate NOK 3.5 billion ($413.99 million)

* Norway's Oil Minister Tord Lien told Reuters he expects oil companies to submit additional plans by the end of 2016 for development and operations of other offshore fields

* Statoil says Utgard scheduled to come on stream at the end of 2019; in the plateau phase the field will produce approximately some 7,000 sm3 per day of oil equivalent (corresponding to 44,000 barrels of oil equivalents per day)

* Recoverable reserves are estimated at 56.4 million barrels of oil equivalent

* Field was previously known as Alfa Sentral and will be remote-controlled from the Sleipner A platform

* Will be developed as a subsea facility tied back to the Sleipner field, where CO2 will be removed and stored in the ground

* Around 60 percent of the resources are located on the Norwegian continental shelf, according to Statoil

* Statoil had previously estimated investments in the field to between 4 billion and 4.5 billion Norwegian crowns

* "The project illustrates how measures to improve efficiency and productivity lead to new profitable field developments. The petroleum industry is, and will remain, Norway's most important industry for years to come," Tord Lien said in a separate statement

* Operator Statoil holds 100 percent of the British part of the Utgard field and 62 percent of the Norwegian license. Lotos holds 28 percent of the Norwegian license, while Total (LSE: 524773.L - news) holds 10 percent Source text: http://www.statoil.com/en/NewsAndMedia/News/2016/Pages/09aug-utgard.aspx Further company coverage: ($1 = 8.4543 Norwegian crowns) (Reporting By Stine Jacobsen, writing by Terje Solsvik, editing by Nerijus Adomaitis)