Minister Søviknes opens Ivar Aasen field

13. February 2017

13 February, the Ivar Aasen field in the North Sea was officially opened by Minister of Petroleum and Energy Terje Søviknes.  “The development of Ivar Aasen is an important milestone for the oil industry, and represents significant values for the Norwegian society”, said Søviknes at the opening ceremony, which was conducted on the helideck on the Ivar-platform. This was the minister’s first visit to an oil platform.

Oil production from the Aker BP-operated field started on 24 December 2016, four years after the Plan for Development and Operation (PDO) was submitted. The project has a total cost framework of NOK 27.4 billion. The development was completed on time and within budget – and with no serious incidents.

From left Øyvind Eriksen, chairman of the board in Aker BP ASA and CEO in Aker ASA, Minister of Petroleum and Energy Terje Søviknes., Karl Johnny Hersvik CEO Aker BP), Bjørn Thore Ribesen (Offshore Installation Manager - Ivar Aasen) og Sverre Skogen (leder av Aker BPs Company Council.

From left Øyvind Eriksen, chairman of the board in Aker BP ASA and CEO in Aker ASA, Minister of Petroleum and Energy Terje Søviknes., Karl Johnny Hersvik CEO Aker BP), Bjørn Thore Ribesen (Offshore Installation Manager – Ivar Aasen) and Sverre Skogen (leder av Aker BPs Company Council.

Efficient and modern
Ivar Aasen is a large and demanding project, with deliveries from all over the world. A total of more than 5000 people, primarily in Trondheim, London, Singapore, Arbatax (Sardinia), Stord and Oslo, have spent more than 17 million working hours on the Ivar Aasen project.

“Production start-up was a huge milestone for Aker BP as a company. This would not have been possible without skilled, safety-conscious employees and suppliers working closely together. We have achieved good results by working as a single team with a common goal – completely in line with our values”, says Aker BP CEO, Karl Johnny Hersvik.
Modern technology contributes to maximum efficiency in operation of the field. The organisation on board the platform is closely integrated with the onshore organisation via modern communication solutions. Operations are controlled from an operations centre in Trondheim. Core offshore staffing during normal operations will consist of 21 people.
“We are building a strong, cost-effective Aker BP, whose goal is to become a standard-setting company on the Norwegian Shelf. Ivar Aasen has been organised, and will be operated, in a way that is completely in line with this strategy,” Hersvik points out.

The recoverable reserves for the Ivar Aasen project are estimated at more than 200 million barrels of oil equivalents. The field’s economic lifetime could be 20 years, depending on oil prices and production development.

Source of inspiration
Aker BP, which was established on 30 September 2016 following the merger of Det norske oljeselskap and BP Norge, has the vision of becoming the leading independent offshore exploration and production company. The company has activities and ownership in licences along the entire Norwegian coast, from the southern part of the North Sea to the Barents Sea.
“Aker BP has considerable confidence in the Norwegian Shelf as an attractive area for investment. This applies within exploration, field development and, not least, operation and further development of the fields where we are the operator. In this landscape, start-up of production on Ivar Aasen is an important source of inspiration for us,” says Øyvind Eriksen, chairman of the board in Aker BP ASA and CEO in Aker ASA.

Facts about the Ivar Aasen field
The Ivar Aasen field is located in the North Sea, approx. 175 km west of Karmøy.
The field was discovered in 2008, and was assessed together with previous discoveries in the nearby area.
In December 2012, Det Norske submitted a plan for development and operation of the Ivar Aasen field to the Ministry of Petroleum and Energy (MPE). The Storting (Norwegian Parliament) approved the plan on 21 May 2013.
The first oil was produced on 24 December 2016 – on time and within the budget.

The Ivar Aasen field is a coordinated development with the Edvard Grieg field, which is located ten km further southeast, and the export solutions are coordinated with this field. The gas is exported via the UK Shelf. The oil from the two fields is exported through a new pipeline from the Edvard Grieg field to the Grane oil pipeline, and further on to the Sture terminal. Ivar Aasen receives power from the Grieg platform.

About Aker BP
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS).
Measured in production, Aker BP is one of the largest independent oil companies in Europe.
Aker BP is the operator of the Valhall, Ula, Ivar Aasen, Alvheim and Skarv field hubs.
The company is headquartered at Fornebuporten outside Oslo and has offices in Stavanger, Trondheim, Harstad and Sandnessjøen.
Aker BP ASA is jointly owned by Aker ASA (40%), BP (30%) and other shareholders (30%). The company is listed on the Oslo Stock Exchange with ticker ‘AKERBP’.

Movie of the development of Ivar Aasen: