The parties have entered into an agreement on commercial terms for a coordinated development of the licenses Krafla, Fulla and North of Alvheim (NOA) on the Norwegian Continental Shelf.
Equinor is the operator of the Krafla license and Aker BP is the operator of the NOA and the Fulla licenses.
The area consists of many licenses and complex reservoirs that contains several oil and gas discoveries with total recoverable resources estimated at more than 500 million barrels of oil equivalents, with further exploration and appraisal potential identified.
The contemplated development concept for the area consists of a processing platform in south operated by Aker BP and an unmanned processing platform in north operated by Equinor with possibilities to several satellite platforms and tiebacks to cover the various discoveries.
Developing these resources will have significant effect on the supplier industry when it comes to engineering, development and the operational phase.
The area is located between Oseberg and Alvheim in the North Sea.
The partners in the licences are Equinor ASA, Aker BP AS and LOTOS Exploration and Production Norge AS.
About Equinor
Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.
About Aker BP
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS). Measured in production, Aker BP is one of the largest independent oil companies in Europe.