Aker BP secures development plan permit for Norwegian offshore field
Aker BP and its partners have received approval for the plan for the development and operation (PDO) of the Frosk field in the Norwegian North Sea.
The approval has been given by the Norwegian Ministry of Petroleum and Energy.
Located in the Alvheim area, the Frosk field is situated approximately 25km southwest of the Alvheim Floating Production Storage and Offloading (FPSO) unit.
The field is planned to be tied back to the Alvheim FPSO via the existing Bøyla and Alvheim subsea infrastructure.
The development of the field, which is expected to start production in the first quarter of next year, is estimated to cost approximately Nkr2bn ($230m).
As per the estimates, the field holds recoverable reserves of nearly ten million barrels of oil equivalent.
Aker Bp Alvheim operations and asset development vice-president Thomas Hoff-Hansen earlier said: “The Frosk development will utilise existing infrastructure and add important volumes to the Alvheim FPSO.
“Production will increase and contribute to our ambition to produce one billion barrels through the FPSO while the incremental emissions from the Frosk project will be low. The Frosk project fits very well to Aker BP’s ‘low cost, low carbon’ strategy.”
Aker BP is serving as the operator of the Frosk field while the other partners include Vår Energi, and Lundin Energy Norway.
Aker BP recently acquired Lundin Energy’s oil and gas business, creating an exploration and production (E&P) company, Lundin Energy Norway.
Lundin Energy Norway operates as Aker BP’s fully owned subsidiary and was renamed ABP Norway AS, effective as of 1 July 2022.
Published: 08-07-2022
