The Norne field is one of the largest oil discoveries made on the Norwegian Continental Shelf during the last decade. The field will be developed by a monohull production ship connected to subsea wells. To improve project economics, a clear objective to reduce investment costs by 30% to 40% and to minimize time from discovery to production was established. To meet this objective, a new, more integrated approach to project management with parallel execution of activities; standardization; and close relations with contractors, license owners, and authorities was initiated. This paper reviews the reservoir development, the development concept, and the new approach to project management.