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
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
US Drillers Cut Most Oil Rigs in a Week Since November
2024-04-26 - The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.