Operator Aker BP and companions report that manufacturing has began from the primary Ærfugl part 2 properly within the Norwegian Sea – three years forward of the unique plan.
“The acceleration of manufacturing from Ærfugl Phase 2 means elevated worth creation for the Ærfugl three way partnership, the provider business and the Norwegian society within the type of elevated revenues. Thus I’m more than happy to mark this milestone. However the excellent news are offset by the truth that we face a worldwide disaster that none of us have skilled earlier than. Investments and explorations actions offshore Norway are placed on maintain. Tens of 1000’s of workers in our business are at the moment in danger, “ says Kjetel Digre, SVP Operations & Asset Development in Aker BP.
As a reply to the dramatic change out there scenario, Aker BP has stopped all non-sanctioned tasks, together with the Hod redevelopment mission within the Valhall space which was nearly to be sanctioned previous to the dramatic turmoil.
“It is obvious that the business’s proposal for short-term changes in Norway’s tax regime to enhance the business’s money move within the quick run – with out lowering the overall tax funds in the long term – will lead to elevated exercise and new funding alternatives offshore Norway throughout the subsequent 12 – 24 months,” provides Digre.
The Ærfugl subject produces by way of Skarv FPSO roughly 210 km west of Sandnessjøen. It is likely one of the most worthwhile growth tasks on the Norwegian shelf with a break-even value of round USD 15 per barrel (transformed from fuel).
In early November 2019 operator Aker BP and companions Equinor, Wintershall DEA and PGNiG permitted the ultimate funding choice (DG3) for Ærfugl Phase 2, which led to as we speak’s announcement. The remaining two part 2 wells will come on stream in 2021.
(Source and picture: AklerBP)

The submit AKER BP STARTS PRODUCTION OF AERFUGL PHASE 2 AHEAD OF SCHEDULE appeared first on Energy Global News.

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