Aker BP and partners have submitted 10 plans for development and operation (PDO) and one plan for installation and operation (PIO) to the Ministry of Petroleum and Energy (MPE) with total investments of more than NOK 200 billion, the company said in a release Dec. 16.
Submissions were made for Yggdrasil (formerly NOAKA), Valhall PWP-Fenris, Skarv satellite, and Utsira High projects, accounting for total recoverable resources of 730 MMboe net to Aker BP, whose investment share is about 70%, amounting to about $19 billion in nominal terms.
The development projects will enable Aker BP’s oil and gas production to grow to around 525,000 b/d in 2028 from around 400,000 b/d in 2022.
Yggdrasil (formerly NOAKA) is the next large field development on the Norwegian shelf. It lies between Alvheim and Oseberg in the North Sea and contains several discoveries with total recoverable resources of around 650 MMboe. New names will be used for license groups and infrastructure, the company said. The development concept consists of an unmanned production platform to the north (Munin, formerly Krafla), a process platform with well bay area and living quarters (Hugin A, formerly NOA) to the south, and a normally unmanned wellhead platform on Frøy (Hugin B) which will be tied back to Hugin A.
Yggdrasil represents a comprehensive subsea development with a total of nine subsea templates. The plan calls for 55 wells in the area, which will be developed using power from shore.
Until now, Equinor has been the operator for Krafla. Upon submission of the plan for development and operation, the field name is changed to Munin. Aker BP will take over as operator and will be operator for the entire area in both the development and operations phases. LOTOS Exploration is a partner with Aker BP and Equinor.
Total investments for the project are estimated at NOK 115 billion with recoverable resources estimated at 650 MMboe. Startup is expected in 2027.
Valhall PWP – Fenris (formerly King Lear)
Valhall PWP is a unitized development in the southern part of the North Sea that includes a new process and wellhead platform (PWP) bridge-connected to Valhall field center with 24 well slots, and an unmanned wellhead platform with 8 slots at Fenris that will produce through a 50 km pipeline to Valhall PWP. The development plan includes a total of 19 wells, of which 15 at Valhall PWP and 4 at Fenris.
The project will also involve modernization of Valhall that ensures continued operation when parts of the current infrastructure are to be phased out in 2028, thus enabling production of the remaining Valhall reserves from 2029 onwards, which are estimated at 135-140 MMboe gross. Valhall PWP be essential in further development of the area and gas production from Fenris will make a significant contribution to long-term gas supplies to Europe.
Total investments are estimated at NOK 50 billion with reserves estimated at 230 MMboe (160 MMboe at Fenris and 70 MMboe at Valhall). Production start is expected in second- and third-quarter 2027, respectively. PGNiG Upstream Norway and Pandion Energy are partners.
Skarv area (Skarv satellite project)
The three developments in the Skarv area are Alve Nord, Idun Nord, and Ørn gas and condensate discoveries in the northern part of the Norwegian Sea. Each comprises a 4-slot template and two wells, subsea tied back to the Skarv FPSO in the northern part of the Norwegian Sea. The developments will be carried out as a joint project – the Skarv satellite project (SSP). These developments will contribute to continued high production and an extended lifetime for Skarv FPSO.
Total investments are estimated at NOK 17 billion with recoverable resources estimated at 120 MMboe. Production start is expected in third-quarter 2027. License partners are Equinor, PGNiG Upstream Norway, and Wintershall DEA.
Utsira High satellite projects will use capacity on Edvard Grieg and Ivar Aasen in the North Sea. New names will be used for license groups and infrastructure. Symra (formerly Lille Prinsen) will be a tie-in to Ivar Aasen while Solveig Phase 2 and Troldhaugen (formerly Rolvsnes) will be tied into the Edvard Grieg platform. For Solveig Phase 2, a report will be submitted to the MPE, rather than a separate PDO.
Total investments are estimated at NOK 21 billion with recoverable resources estimated at 124 MMboe. Drilling will begin in third-quarter 2025, while production start-up is scheduled for first-quarter 2026 for Solveig and Troldhaugen, and first-quarter 2027 for Symra. Partners are Equinor, Sval Energi, OMV, Wintershall DEA.