Aker BP makes Norwegian Sea oil discovery
Aker BP ASA made what it calls a 'significant' oil discovery in the Øst Frigg Beta/Epsilon exploration well within production licenses (PL) 873 and 442 in the Yggdrasil area of the Norwegian North Sea.
Drilling is nearly complete. Preliminary estimates indicate a gross recoverable volume of 40-90 MMboe, surpassing pre-drill estimate of 18-45 MMboe. The discovery enhances the resource base for the Yggdrasil development, which was previously stated at 650 MMboe (gross), the operator said.
The plan for development and operations was submitted to Norwegian authorities in December 2022, with production scheduled to begin in 2027.
Aker BP is operator of PL 873 with 47.7% interest. Partners are Equinor Energy AS (40%) and PGNiG Upstream Norway AS (12.3%).
Aker BP is operator of PL 442 with 87.7% interest. PGNiG Upstream Norway holds the remaining 12.3%.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).