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April 29, 2022

Ula Conventional Oil Field, Norway

By Carmen

Ula is a producing conventional oil field located in shallow water in Norway and is operated by Aker BP. The field is located in block 7/12P (PL 019) and 7/12P (PL 019 E), with water depth of 233 feet.

Field participation details

The field is owned by DNO and Aker BP.


Production from Ula

The Ula conventional oil field recovered 98.65% of its total recoverable reserves, with peak production in 1993. The peak production was approximately 126.51 thousand bpd of crude oil and condensate, 46 Mmcfd of natural gas and 8.9 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2026.


Remaining recoverable reserves

The field is expected to recover 7.33 Mmboe, comprised of 6.82 Mmbbl of crude oil & condensate and 0.5 Mmbbl of natural gas liquid reserves.


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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