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November 23, 2021

Åsgard Conventional Gas Field, Norway

By Carmen

Åsgard is a producing conventional gas field located in shallow water in Norway and is operated by Equinor Energy. The field is located in block 6507/11P (PL 062), 6407/2P (PL 074), 6406/3P (PL 094 B), 6407/3P (PL 237), 6506/11P (PL 134), 6506/12P (PL 094), 6506/9P (PL 479), and 6506/12P (PL 479), with water depth of 1,089 feet.

An expansion project is associated with the Åsgard, namely Smørbukk Development. This project is currently in the construction stage, expected to start in 2023.

Field participation details

The field is owned by Eni, TotalEnergies, HitecVision, Equinor and Petoro.


Production from Åsgard

The Åsgard conventional gas field recovered 91.93% of its total recoverable reserves, with peak production in 2003. The peak production was approximately 194.13 thousand bpd of crude oil and condensate, 974 Mmcfd of natural gas and 60.73 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2034. The field currently accounts for approximately 5% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 207.13 Mmboe, comprised of 26.57 Mmbbl of crude oil & condensate, 788.46 bcf of natural gas reserves and 49.14 Mmbbl of natural gas liquid reserves. Åsgard conventional gas field reserves accounts 0.07% of total remaining reserves of producing conventional gas fields globally.


Contractors involved in the Åsgard conventional gas field

Some of the key contractors involved in the Åsgard project as follows.

Design/FEED Engineering: Aker Solutions

Main EPC: Aker Solutions

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About Equinor Energy

Equinor Energy AS (Equinor Energy) is a wholly-owned subsidiary of Equinor ASA. The company provides oil and gas exploration and production services. It extracts, refines, and transports natural gas, crude oil, and wind power for manufacturing of synthetic fabrics, plastics, asphalt, cosmetics, and medicines. Equinor Energy is headquartered in Stavanger, Norway.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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