The Valhall and Hod assets, located in the Norwegian sector of the North Sea, have produced over one billion barrels of oil equivalents, according to a statement from Aker BP ASA.
This figure is more than three times the amount that was expected at the opening of the Valhall field in 1982. Hod, which produces via Valhall, has delivered over 75 million barrels of oil equivalents alone, which is more than twice the estimated oil at field start-up in 1990.
Activity levels at Valhall have been high since the field’s output start-up, Aker BP said. The current well stock comprises 55 active wells out of a total of nearly 150 productive wells drilled since field discovery. Almost 20 seismic 4D seabed surveys have also been acquired since 2003.
“In 1995, work was performed with the goal to extend the field lifetime and recover more than one billion barrels of oil equivalents,” Eldar Larsen, senior vice president of operations at Aker BP, said.
“We have now achieved this goal 15 years ahead of what was thought at the time. Our new ambition is to further produce at least another 500 million barrels of oil equivalents,” he added.
Valhall is a big and important workplace, with thousands of jobs directly and indirectly dependent on field operations, according to Aker BP.
“Our goal is safe and profitable production from Valhall for several decades ahead,” Aker BP said in a company statement.
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