Subsea 7's Pipelines and Umbilicals for Aker BP's Hod
, Norway. Fabrication of the pipelines will take place at Subsea 7's spoolbase at Vigra, Norway and offshore operations will take place in 2020 and 2021.The Hod production start is planned for the first quarter of 2022.Recoverable reserves for Hod are estimated at around 40 million barrels of oil equivalents. Aker BP is the operator with 90 percent ownership interest. Pandion Energy is a partner with 10 percent interest
TechnipFMC Wins Johan Sverdrup 2 Contract
;s Johan Sverdrup Phase 2 Development. It reaches beyond the supply of subsea equipment, now encompassing its installation.”The Johan Sverdrup development is one of the largest developments on the Norwegian continental shelf, with expected resources of between 2.1-3.1 billion barrels of oil equivalents, according to Equinor. The first phase, which establishes a four-platform field center, is currently under development, with first oil scheduled for late 2019.Phase two builds on this infrastructure with another processing platform and the development of the Avaldsnes (east), Kvitsø
Enhanced Seismic Monitoring at Johan Sverdrup
. By using a PIES, Equinor will have higher repeatability in their seismic data which further supports proactive reservoir management.”Johan Sverdrup is one of the five largest oil fields on the Norwegian continental shelf, with expected resources of between 2.1—3.1 billion barrels of oil equivalents. Production for Phase One is is expected to begin in late 2019
'Frog's Leg' Proves Bountiful for Aker BP
Aker BP finds up to 153 million barrels of oil equivalents in North SeaAker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents, and may straddle Norway's maritime border with Britain."The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery," Aker BP said in a statement.When reserves are found to stretch across
Aker BP Q3 Operating Profit Beats Forecast
ago, beating the $521 million expected by analysts in a Reuters poll.The company slightly reduced its 2018 capital spending guidance to $1.25 billion from $1.3 billion, and exploration spending to $400 million from $425 million, while maintaining its production guidance at 155,000-160,000 barrels of oil equivalents per day.Aker BP, 30 percent owned by BP will pay a dividend of $0.31 per share for the quarter, in line with expectations and stable from the previous quarter.(Reporting by Nerijus Adomaitis, editing by Ole Petter Skonnord
Norway to Spend More Looking for O&G Near Russian Border
belongs to Norway but has become significant because of growing interest in Arctic oil and gas..Norwegian Petroleum Directorate said last year the area bordering Russia southeast of the Arctic archipelago of Svalbard, which is not yet opened up for exploration, could hold 8.6 billion barrels of oil equivalents.The Directorate, which has previously conducted 2D surveys and drilled shallow wells to collect sediment samples, said there were a few large structures straddling the border with Russia, including Sentralbanken High.Seismic 3D surveys provide a three-dimensional and more detailed image of the
Aker BP CEO Predicts Fast Johan Sverdrup Ramp-up
ends in late 2019, its chief executive said on Thursday."I think it will be done in a few months, because the production per well is so high," Karl Johnny Hersvik told Reuters on the sidelines of an energy conference.Johan Sverdrup Phase 1 will have capacity to produce 440,000 barrels of oil equivalents per day (boed), while the second phase, starting production in 2022, is expected to further boost output to 660,000 boed.Sweden's Lundin Petroleum, another partner in the Equinor-operated, on Wednesday said it expected the field to start producing before November next year.Equinor has said
Aker BP Adds More Acreage off Norway
Norway's independent oil firm Aker BP has agreed to buy stakes in 11 production licenses off Norway from French Total for a cash consideration of $205 million, the company said on Tuesday.The portfolio includes four discoveries with net recoverable resources of 83 million barrels oil equivalents based on estimates from the Norwegian Petroleum Directorate (NPD), it added."With this transaction, we get access to new tie-back opportunities in the Alvheim and Skarv areas, we strengthen our resource base in the NOAKA area, and we increase our interest in exploration acreage near the
Oil Exploration Is Ramping Up Off Norway
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-thirds located in the Arctic Barents Sea, it added.Half of estimated undiscovered resources in the Barents Sea, however, are located north of the areas opened for petroleum activities, and it's unclear when oil firms can get access to them.(Reporting by
February 2024
