Oil and gas firm Aker BP will accelerate the startup of production from Norway’s Aerfugl natural gas field, the company said Nov. 11.
In a surprise move, the company now plans to start Aerfugl production in first-half 2020, three years ahead of what had originally been billed as the field’s second phase.
Partners in the 8 billion Norwegian crown (US$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 fourth-quarter 2020, Aker BP said in a statement.
The Aerfugl Field is among the most profitable development projects offshore Norway, with a break-even price of about $15 per barrel of oil equivalent, the company added.
The Norwegian Sea reservoir, containing some 300 million barrels of oil equivalent, will be processed via a FPSO 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.
Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell Plc, among other firms in Mexico’s Association of Hydrocarbon Companies (Amexhi), say they have met output targets and investment pledges worth hundreds of millions of dollars in the initial phases of their contracts.
Longer laterals and wider spacing are among the trends being seen, expert says.
Florida Republican Senator Marco Rubio has placed a hold on the Senate confirmation of President Donald Trump's pick to become the deputy secretary of the Interior Department, Katharine MacGregor, over concerns about the agency's plans to expand offshore drilling, his office said on Dec. 4.