Aker BP, a leading Norwegian oil company, is proud to announce the successful start of production from the Hanz field in the North Sea. Operating in collaboration with Equinor and Sval Energy, Aker BP has undertaken this significant subsea field development, which is connected to the Ivar Aasen platform, located roughly fifteen kilometers to the south.
With an estimated investment of nearly NOK 5 billion and reserves totaling approximately 20 million barrels of oil equivalent (mmboe), the production commencement from Hanz marks a substantial milestone for Aker BP. The CEO of Aker BP, Karl Johnny Hersvik, emphasizes the value of teamwork and innovative solutions in achieving this feat.
Through the efficient reuse of infrastructure and the implementation of a cross-flow well, Aker BP has managed to reduce costs and minimize emissions. The Hanz field had initially been discovered in 1997, and the remarkable reuse of subsea production systems from the Jette field is a groundbreaking move in the industry.
The utilization of a cross-flow well for water injection has also transformed the oil and gas recovery strategy for Hanz, resulting in significant reductions in power consumption, chemical usage, and equipment requirements on the seabed. The Vice President of Projects Edvard Grieg and Ivar Aasen, Stine Kongshaug McIntosh, highlights the cost-efficiency and environmental advantages achieved through these developments.
Furthermore, Aker BP’s commitment to sustainable operations is evident in their efforts to minimize CO2 emissions. The Ivar Aasen field, where the Hanz field is situated, receives power from the Edvard Grieg platform and will transition to receiving power from shore via the Johan Sverdrup field, significantly reducing carbon emissions.
The cooperation between Aker BP, Equinor, and Sval Energy has undoubtedly played a pivotal role in developing the Hanz field and maintaining strong production levels at the Ivar Aasen platform. Aker BP’s dedication to continuous improvement and their vision of producing with low costs and low emissions have driven their pursuit of innovative solutions in the North Sea.
For more information, please contact:
Ole-Johan Faret, Press Spokesperson, Tel.: +47 402 24 217
Kjetil Bakken, Head of Investor Relations, Tel.: +47 918 89 889
Aker BP’s recent production commencement from the Hanz field in the North Sea highlights the company’s successful subsea field development. The estimated investment of nearly NOK 5 billion and reserves of around 20 million barrels of oil equivalent (mmboe) make this a significant milestone for Aker BP. The CEO, Karl Johnny Hersvik, attributes this achievement to teamwork and innovative solutions.
One of the notable aspects of this project is the efficient reuse of infrastructure and the implementation of a cross-flow well, which has led to cost reduction and minimized emissions. The ability to reuse subsea production systems from the Jette field is a groundbreaking move in the industry. The utilization of a cross-flow well for water injection has also revolutionized the oil and gas recovery strategy for the Hanz field, resulting in significant reductions in power consumption, chemical usage, and equipment requirements on the seabed.
Aker BP’s commitment to sustainable operations is evident in their efforts to minimize CO2 emissions. The company plans to transition the Ivar Aasen field, where the Hanz field is situated, to receiving power from shore via the Johan Sverdrup field, which will significantly reduce carbon emissions.
However, there are challenges associated with this project. The North Sea oil and gas industry is facing increasing scrutiny due to concerns about climate change and the shift towards renewable energy sources. Aker BP will need to navigate these challenges and adapt to changing market trends.
In terms of market trends, the oil and gas industry is experiencing volatility due to fluctuations in global demand and geopolitical factors. The COVID-19 pandemic has also had a significant impact on oil prices and production levels. As the world transitions towards renewable energy, there is growing pressure on oil companies to diversify their portfolios and invest in sustainable technologies.
Despite these challenges, Aker BP’s collaboration with Equinor and Sval Energy has been crucial in developing the Hanz field and maintaining strong production levels at the Ivar Aasen platform. Their commitment to continuous improvement and their vision of producing with low costs and low emissions have driven their pursuit of innovative solutions in the North Sea.
For more information, please contact:
Ole-Johan Faret, Press Spokesperson, Tel.: +47 402 24 217
Kjetil Bakken, Head of Investor Relations, Tel.: +47 918 89 889
Source: Aker BP Commences Production from Hanz Field in the North Sea