Equinor, Aker BP Set Terms for Norwegian Shelf Development



Equinor, Aker BP Set Terms for Norwegian Shelf Development
Equinor and Aker BP have agreed on commercial terms for a coordinated development of the Krafla, Fulla and North of Alvheim licenses.

Equinor and Aker BP have agreed on commercial terms for a coordinated development of the Krafla, Fulla and North of Alvheim (NOA) licenses on the Norwegian Continental Shelf (NCS), Equinor reported last week.

Aker BP operates the NOA and Fulla licenses and Equinor operates Krafla, Equinor noted in a written statement emailed to Rigzone. Equinor added the area – located between Oseberg and Alveheim in the North Sea – comprises many licenses and complex reservoirs, with several oil and gas discoveries boasting total estimated recoverable resources exceeding 500 million barrels of oil equivalents.

“The contemplated development concept for the area consists of a processing platform in south operated by Aker BP and an unmanned processing platform in north operated by Equinor with possibilities to several satellite platforms and tiebacks to cover the various discoveries,” Equinor stated.

This image supplied by Equinor illustrates the development concept. The company noted that developing the resources will have a significant effect on suppliers during engineering, development and operations.

LOTOS Exploration and Production Norge AS is partnering with Equinor and Aker BP in the licenses.

To contact the author, email mveazey@rigzone.com.



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