Ivar Aasen is a producing conventional oil field 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, 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 371 feet. Buy the profile here.
An expansion project is associated with the Ivar Aasen, namely the Ivar Aasen (IOR) Infill Project. This project is currently in the commissioning stage, expected to start in 2023.
Field participation details
The field is owned by Aker BP, Equinor, M Vest Energy, Okea and Sval Energi.
Production from Ivar Aasen
The Ivar Aasen conventional oil field recovered 57.55% of its total recoverable reserves, with peak production in 2018. The peak production was approximately 52.87 thousand bpd of crude oil and condensate, 62.00 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 2050. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 86.26 Mmboe, comprised of 62.14 Mmbbl of crude oil & condensate, 97.77 bcf of natural gas reserves and 7.82 Mmbbl of natural gas liquid reserves. Ivar Aasen conventional oil field reserves accounts 0.02% of total remaining reserves of producing conventional oil fields globally.
Contractors involved in the Ivar Aasen conventional oil field
Some of the key contractors involved in the Ivar Aasen project as follows.
Other Contractors: A.P. Moller - Maersk and NOV
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.
For more details on the Ivar Aasen Conventional Oil Field, buy the profile here.