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  1. Market Data
May 6, 2022

Valhall Conventional Oil Field, Norway

By Carmen

Valhall is a producing conventional oil field located in shallow water in Norway and is operated by Aker BP. The field is located in block 2/8P (PL 006 B) and 2/11P (PL 033 B), with water depth of 242 feet.

Five expansion projects are associated with the Valhall conventional oil field, namely Valhall Flank North Water Injection Project, Valhall NCP, Valhall IP Drilling Program, Valhall Infill Project and Valhall WP Life Time Extension Project. The expansion projects are currently in the commissioning, feed and approval stage.

Field participation details

The field is owned by Pandion Energy and Aker BP.


Production from Valhall

The Valhall conventional oil field recovered 89.10% of its total recoverable reserves, with peak production in 1999. The peak production was approximately 91.45 thousand bpd of crude oil and condensate, 100 Mmcfd of natural gas and 4.45 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2037. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 118.93 Mmboe, comprised of 92.34 Mmbbl of crude oil & condensate, 129.86 bcf of natural gas reserves and 4.95 Mmbbl of natural gas liquid reserves. Valhall conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.


Contractors involved in the Valhall conventional oil field

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

Design/FEED Engineering: ABB, Aker Solutions and Techouse

Other Contractors: A.P. Moller – Maersk, Aker Solutions, Archer, CHC Group and Kvaerner

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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