Aker BP Sanctions Hanz Discovery To Improve Ivar Aasen Production

Aker BP Sanctions Hanz Discovery To Improve Ivar Aasen Production
Aker BP has made an investment decision for the development of the Hanz discovery in the North Sea.

Norwegian oil and gas company Aker BP has made an investment decision for the development of the Hanz discovery in the North Sea, which will enable good production from the nearby Ivar Aasen field for several years.

Aker BP made its decision with its license partners Equinor and Spirit Energy. According to the company, it has matured a solution involving the reuse of existing infrastructure, which both strengthens project economics and minimizes the environmental footprint.

Namely, Hanz is an oil and gas discovery that will be tied into the Aker BP-operated Ivar Aasen platform, which is located about 7.5 miles further south. The first oil from Ivar Aasen was produced one day before Christmas in 2016 – December 24.

Aker BP and its partners will invest about $363 million for the project with total reserves of around 20 million barrels of oil equivalent. The expected start-up of the project is in the first half of 2024.

Development and operation of the Ivar Aasen field, including Hanz, was subject to a full impact assessment in 2012. The Hanz concept was also described in the Plan for Development and Operation for the Ivar Aasen field.

“Over the last few years, we have matured an optimized development solution, in part through re-use of subsea production systems (SPS) from the Jette field. This development solution will be more cost-efficient and have a smaller environmental footprint than the original concept that was described when the PDO was first delivered,” SVP of Operations and Asset Development at Aker BP Ine Dolve stated.

In addition to reusing existing infrastructure, the strategy for how the oil and gas is to be recovered from Hanz has been changed to include the use of a cross-stream well for water injection. This results in a substantial reduction of power consumption, less use of chemicals and less equipment on the seabed.

“The selected development solution provides both better project economy and significantly lower emissions and environmental footprint than we previously assumed,” Dolve added.

The change in the development solution for Hanz since the PDO was submitted means that the partnership will send a formal statement regarding the investment decision and the selected concept to the authorities.

“Development of the Hanz discovery is important for the development of the Ivar Aasen area. Production start from Hanz in 2024 will help us maintain good production from the Ivar Aasen platform for several more years,” says Ivar Aasen asset manager Gudmund Evju.

“At the same time, we are searching for new oil and gas resources in the area, both through improved recovery measures and exploration, to tie additional volumes into the field center,” Evju claimed.

As for Ivar Aasen, it is located on the Utsira High in the northern part of the North Sea, around 110 miles west of Karmøy. The field was discovered in 2008 and was joined with other discoveries in the area, including Hanz, which was proven in 1997.

Ivar Aasen receives power from the Edvard Grieg platform 6 miles southeast. From 2022, the field will receive power from shore via the Johan Sverdrup field to minimize CO2 emissions.

To contact the author, email bojan.lepic@rigzone.com

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