Norway’s Aker BP said on Aug. 10 it had submitted to authorities a $620.6 million joint plan for developing its Trell and Trine oil discoveries in the Alvheim area in the North Sea.
The subsea development, estimated to hold about 25 million barrels of oil equivalent in recoverable resources, is expected to start production in first-quarter 2025, it added.
The project would help to boost total output from the wider Alvheim area, which includes Alvheim and several satellite fields, and so far, has produced 550 million barrels.
“When Trell and Trine are approved, the Alvheim area will surpass 750 million barrels either produced or sanctioned for development,” Aker BP said, adding that it had an ambition to produce 1 billion barrels from the area by 2040.
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