Hanz is a conventional oil development located in shallow water in Norway and is operated by Aker BP. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Hanz was discovered in 1997, lies in block 25/10P (PL 028 B), with water depth of around 382 feet. Buy the profile here.

The project is currently in construction stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project was approved in 2021. The development cost is expected to be $571 m. The Hanz conventional oil development will involve the drilling of approximately two wells and includes subsea tree.

Field participation details

The field is owned by Aker BP, Equinor and Sval Energi.

Production from Hanz

Production from the Hanz conventional oil development project is expected to begin in 2024 and is forecast to peak in 2025, to approximately 8,144 bpd of crude oil and condensate, 7 Mmcfd of natural gas and 473 bpd of natural gas liquids. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2054.

Remaining recoverable reserves

The field is expected to recover 15.88 Mmboe, comprised of 13.27 Mmbbl of crude oil & condensate, 10.03 bcf of natural gas reserves and 0.94 Mmbbl of natural gas liquid reserves.

Contractors involved in the Hanz conventional oil field

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

Main EPC: Subsea 7

Other Contractors: Schlumberger, A.P. Moller - Maersk, Subsea 7, Acteon Group and Odfjell Drilling

About Aker BP

Aker BP ASA (Aker BP) is an independent oil and gas exploration and production company. Its exploration, development and production activities 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 includes in 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 operations in Harstad, Sandnessjoen, Stavanger and Trondheim. Aker BP is headquartered in Lysaker, Norway.

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.