Aker BP has started production from the Skarv Satellite Project, which comprises the Alve Nord, Idun Nord and Ørn fields in the Norwegian Sea. The project has been executed efficiently, with production starting one year ahead of the original schedule. The developments represent approximately 120 million barrels of oil equivalent of recoverable resources and support further value creation by increasing flexibility and extending the life of the infrastructure around Skarv.
Alve Nord, Idun Nord and Ørn are located near the Skarv field in the northern part of the Norwegian Sea. They have been developed as three separate subsea developments, coordinated through the Skarv Satellite Project (SSP). Each development consists of a subsea template and two wells tied back to the Skarv FPSO. Together, the developments strengthen Skarv as a production area and support further resource development in the area. The developments have a low CO? intensity of approximately 4.5 kilograms of CO? per barrel of oil equivalent as a result of effective utilisation of existing infrastructure.
- The start-up of the Skarv Satellites is an important milestone for Aker BP. Through a single integrated project, we have brought three new fields on stream, one year ahead of the original schedule. This demonstrates what we can achieve through close collaboration between our employees, alliance partners and suppliers. I would like to thank everyone who has contributed. The Skarv Satellites strengthen one of our most important production areas and will generate significant value for many years to come, says Karl Johnny Hersvik, CEO of Aker BP.
- With the start-up of SSP, we have now delivered the entire portfolio of subsea tie-back projects sanctioned in 2022. The projects have been delivered safely, with high quality and strong cost control, and on or ahead of schedule. This is an achievement that the entire organisation and our partners can be proud of, says Hersvik.
The project has been executed using Aker BP's alliance model, in close cooperation with suppliers. Together with alliance partners OneSubsea, Subsea7, Aker Solutions and Halliburton, as well as Saipem during the drilling phase, the project has been delivered safely and efficiently, while maintaining high quality. Shared infrastructure and coordinated project execution have enabled efficient resource utilisation across the three developments. Approximately 60 percent of the project deliveries have been sourced from Norwegian suppliers, and the project has contributed to significant regional economic activity.
Production from the Skarv Satellites is expected to account for a significant share of Aker BP's production in the Skarv area for several years. The project also strengthens the foundation for further development and resource utilisation in the area
Licence partners
Alve Nord (PL 127C)
· Aker BP (operator) 58.1 percent · Harbour Energy 20.0 percent · ORLEN Upstream Norway 11.9 percent · JAPEX Norge 10.0 percent
Idun Nord (PL 159D)
· Aker BP (operator) 23.8 percent · Equinor 36.2 percent · Harbour Energy 28.1 percent · ORLEN Upstream Norway 11.9 percent
Ørn (PL 942)
· Aker BP (operator) 30.0 percent · ORLEN Upstream Norway 40.0 percent · Equinor 30.0 percent
Contacts Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889 Tore Dammann Langballe, Press Spokesperson, tel.: +47 907 77 841
About Aker BP Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates the field centres Alvheim, Eiga, Skarv, Ula and Valhall, operates Yggdrasil, which is under development, and is a partner in the Johan Sverdrup field. Measured in production, Aker BP is one of the largest independent oil companies in Europe. Aker BP is headquartered at Fornebu and is listed on the Oslo Stock Exchange under the ticker code AKRBP. More about Aker BP at www.akerbp.com (https://www.akerbp.com/en).
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