The Ivar Aasen field development project is progressing according to schedule towards a planned start-up in the fourth quarter 2016. Aker BP is the operator of the unitized development, with a 34.7862 percent interest.
The Ivar Aasen development compromises resources in five fields, PL 001B, 028B, 242, 338 and 547. The licencees in the five fields signed an agreement, which establishes the ownership interest in the unitized field, in June 2014. Aker BP is the operator with 34.7862 percent ownership interest.
The unit agreement comprises the Ivar Aasen and West Cable deposits. The Hanz deposit remains in PL 028B, where Aker BP is operator and has 35 percent interest. Hanz is planned to be developed in phase 2 of the Ivar Aasen development.
Ivar Aasen partnership:
Aker BP 34.7862 percent
Statoil Petroleum 41.4730 percent
Bayergas Norge 12.3173 percent
Wintershall Norge 6.4651 percent
VNG Norge 3.0230 percent
Lundin Norway 1.3850 percent
OKEA 0.5540 percent
The Ivar Aasen field is situated west of the Johan Sverdrup field in the North Sea, and contains approximately 204 million barrels of oil equivalents, Hanz deposit included. Net to Aker BP, this amounts to about 71 mmboe.
The anticipated economic life of Ivar Aasen is 20 years, depending on oil price and production trend.
In summer 2014, the project reached an important milestone when one of the main parts of the jacket was rolled up. The jacket was completed and delivered from Saipem’s yard in Arbatax on Sardinia in the first quarter 2015, put in place on the Ivar Aasen field in the second quarter of 2015. The drilling of pilot wells started in the first quarter 2015, and 8 wells were finished during the pre-drill campaign by the Maersk Interceptor. The Ivar Aasen topside is in place on the field at UtsiraHight. Approximately 15,000 tons was lifted onto the jacket with first oil expected in December 2016.
Operated from Trondheim
The Ivar Aasen field is developed and operated from Trondheim. Aker BP aims to make use of state-of-the-art technology, ensuring efficient operation and low offshore staffing. An operation centre with control room will be established in Trondheim. The Ivar Aasen development will require approximately 2000 full-time equivalents.