Ivar Aasen is a producing conventional oil field located in shallow water in Norway and is operated by Aker BP. The field is located in block 16/1P (PL 001 B), 16/1P (PL 242), 16/1P (PL 338 BS), and 16/1P (PL 457 BS), with water depth of 377 feet.
Field participation details
The field is owned by Aker BP, Equinor, Centrica, Okea, Lundin Energy, BASF, Stadtwerke Munchen, Neptune Energy Group and LetterOne Holdings.
Production from Ivar Aasen
The Ivar Aasen conventional oil field recovered 45.76% of its total recoverable reserves, with peak production in 2018. The peak production was approximately 52.87 thousand bpd of crude oil and condensate, 62 Mmcfd of natural gas and 3.44 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2049. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 123.97 Mmboe, comprised of 93.26 Mmbbl of crude oil & condensate, 145.07 bcf of natural gas reserves and 6.54 Mmbbl of natural gas liquid reserves. Ivar Aasen conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.
About Aker BP
Aker BP ASA (Aker BP) is an independent oil and gas exploration and production company. It mainly focuses on the Norwegian Continental Shelf (NCS). The company has a balanced portfolio of assets across the upstream value chain. Aker BP operates producing assets include Alvheim, Ivar Aasen, Skarv, Ula and Valhall among others. It also has participating interest in other producing assets such as Atla, Enoch and Gina Krog. The company is also a partner in a major developing project, Johan Sverdrup and has interest in additional exploration licenses. It has offices in Harstad, Sandnessjoen, Stavanger and Trondheim. Aker BP is headquartered in Lysaker, Norway.
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.