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April 28, 2022

King Lear Conventional Gas Field, Norway

By Carmen

King Lear is a conventional gas development located in shallow water in Norway and is operated by Aker BP. Discovered in 2012, King Lear lies in block 2/4P (PL 146), 2/4P (PL 333), and 2/4P (PL 146 B), with water depth of around 223 feet.

The project is currently in feed stage and is expected to start commercial production in 2027. Final investment decision (FID) of the project will be approved in 2022.

Field participation details

The field is owned by Aker BP and Polskie Gornictwo Naftowe i Gazownictwo.


Production from King Lear

Production from the King Lear conventional gas development project is expected to begin in 2027 and is forecast to peak in 2029, to approximately 14,046 bpd of crude oil and condensate and 109 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2071.


Remaining recoverable reserves

The field is expected to recover 112.22 Mmboe, comprised of 48.96 Mmbbl of crude oil & condensate and 379.54 bcf of natural gas reserves.


Contractors involved in the King Lear conventional gas field

Some of the key contractors involved in the King Lear project as follows.

Design/FEED Engineering: ABB, Aker Solutions and Subsea 7

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.

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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