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August 11, 2022

Aker BP unveils $700m investment plan for North Sea tie-back project

The development will involve the tieback of three wells to existing infrastructure and two new subsea installations.

Aker BP and its partners have revealed a plan to invest Nkr6bn ($700m) to develop the Trell and Trine satellite oilfields in the Alvheim area offshore Norway.

A plan for the development and operation (PDO) of the Trell and Trine fields has already been submitted to Norway’s Ministry of Petroleum.

Aker BP CEO Karl Johnny Hersvik said: “Trell & Trine is the third PDO submission in the Alvheim area in just one year, following close on the heels of Frosk and Kobra East & Gekko (KEG).

“This is yet another confirmation of a success story on Alvheim that we and our partners can be proud of. From an operational perspective, the Alvheim area is one of the most cost-effective on the Norwegian shelf, and the resource base has expanded dramatically since the field came on stream.”

Aker BP’s partners in production licences 102 F/G and 036E/F, which contain the discoveries, are Petoro and Lotos E&P Norge.

The discoveries are located 15 miles east of the Alvheim floating production, storage and offloading (FPSO) vessel.

As per the plan, the Trell and Trine project will use the planned extended lifetime for the Alvheim field.

The offshore project will boost production from the Alvheim field, cut unit costs, and reduce CO₂ emissions per barrel, Aker BP said.

The development will involve the tieback of three wells to existing infrastructure and two new subsea installations on the East Kameleon, and further onto the Alvheim FPSO.

Aker BP noted that one of the three wells is Trell Nord, which is not yet proven, but has a high chance of discovery.

It is being estimated that the two discoveries may have approximately 25 million barrels of oil equivalent in recoverable resources.

Last month, Aker BP and its partners received approval for the plan for the development and operation (PDO) of the Frosk field in the Norwegian North Sea.

Located in the Alvheim area, the Frosk field is situated approximately 25km southwest of the Alvheim FPSO unit.

The development of the field, which is expected to start production in the first quarter of next year, is estimated to cost nearly $230m.

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