Aker BP received a go-ahead to start-up production at its Hanz accumulation as a subsea tieback to the Ivar Aasen Field in the North Sea, the Norwegian Offshore Directorate (NOD) announced Feb. 27.
Hanz was proven in 1997 and is included in the 2013 plan for development and operation for the Ivar Aasen Field.
The project in 380 ft water depth is reusing the subsea installations on the Jette Field, which was shut down in 2016.
In a press release, NOD’s Tomas Mørch, assistant director of license management, called the use of existing infrastructure and an alternative method for pressure support a good use of resources.
Development costs for Hanz were about $400 million, and the project targets recovering about 20 MMboe.
Aker BP expects to begin production during the first quarter of 2024.
Aker BP operates PL028 B with 35% interest on behalf of partners Equinor with 50% and Sval Energi with 15%.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals
2024-05-03 - Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Infrastructure Company Savage Acquires Houston’s Texon
2024-05-03 - Texon, a midstream service provider, will continue operations under its legacy brand.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Pitts: US, Qatar Face off in LNG ‘Olympics’
2024-05-03 - In the LNG exporting space, the U.S. is squaring off with its fiercest competitor, Qatar, with both countries expected to outpace Australia