Aker BP plans early startup at Norway’s Aerfugl gas field

Must Read

South America’s emerging deepwater oil giants pledge strategic alliance

Following discussions over the last 24-hours between the newly elected Presidents of Guyana and Suriname, the two leaders announced...

Stena Carron set to arrive at Tanager-1 today as search for more oil in Guyana continues

The hunt for more hydrocarbons continues offshore Guyana, this time outside of the prolific Stabroek Block, as ExxonMobil prepares...

Liza and Kwaskwasi are giants in the prolific Guyana-Suriname basin

The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

(Reuters) – Oil and gas firm Aker BP will accelerate the startup of production from Norway’s Aerfugl natural gas field, the company said on Monday.

In a surprise move, the company now plans to start Aerfugl production in the first half of 2020, three years ahead of what had originally been billed as the field’s second phase.

Partners in the 8 billion Norwegian crown ($875 million) project are Aker BP, Equinor, Wintershall DEA and PGNiG.

The original first phase of development, which now comes second, is meanwhile on track to start production in the fourth quarter of 2020, Aker BP said in a statement.

The Aerfugl field is among the most profitable development projects off the coast of Norway, with a break-even price of around $15 per barrel of oil equivalent, it added.

The Norwegian Sea reservoir, containing some 300 million barrels of oil equivalent, will be processed via a floating production, storage and offloading (FPSO) vessel that is already in place at the nearby Skarv field.

The early startup was made possible by modifying the FPSO to boost its gas processing capacity, Aker BP said.

- Advertisement -

Latest News

South America’s emerging deepwater oil giants pledge strategic alliance

Following discussions over the last 24-hours between the newly elected Presidents of Guyana and Suriname, the two leaders announced...

Liza and Kwaskwasi are giants in the prolific Guyana-Suriname basin

The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class Liza discovery in 2015 at...

Stena Carron set to arrive at Tanager-1 today as search for more oil in Guyana continues

The hunt for more hydrocarbons continues offshore Guyana, this time outside of the prolific Stabroek Block, as ExxonMobil prepares to conduct a new drill...

Principles for natural gas agreement with the Government of Guyana

The Guyanese government under the contract is likely to have its own share of profit hydrocarbons to lift, including natural gas. A state-owned oil...

Oil giants’ production cuts come to 1 million bpd as they post massive write-downs

(Reuters) - The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and...

More Articles Like This