Aker BP har gjort et gassfunn i Svanefjell-prospektet i Barentshavet.

– Per i dag anses ikke funnet som drivverdig, men vi vil revurdere volum og drivverdighet hvis det konkluderes med at gassen er i gasshydrat-fase, sier letedirektør i Aker BP, Gro Gunleiksrud Haatvedt.

Lenke til Oljedirektoratets pressemelding om resultat av letebrønn 7221/12-1

Dersom det er fri gass i reservoaret, er foreløpig beregning av størrelsen på funnet mellom 2 og 3,5 milliarder standardkubikkmeter utvinnbar gass.

Foreløpige resultater fra gassprøver i brønnen kan indikere at tilstedeværende gass opptrer som gasshydrat. Dette er ennå ikke bekreftet, og vil bli forsøkt verifisert i de videre analysene av data som ble samlet inn i brønnen. Arbeidet med å studere funnet i detalj pågår for fullt, sier letedirektøren.

Svanefjell er lokalisert i Lopphavet ca 170 kilometer nord for Hammerfest og 70 kilometer nord for Snøhvitfeltet. Dette var Aker BPs første leteboring i Barentshavet på fire år: I 2014 boret selskapet (tidl: Det norske) letebrønnen Langlitinden, som ligger ca 25 km lenger øst.

Aktiv leteaktør
Aker BP er en ledende aktør innenfor leting på norsk sokkel, og har mål om å finne 250 million fat oljeekvivalenter (oe) netto i perioden 2016 – 2020.

I 2018 vil selskapet være operatørEn av rettighetshaverne i en lisensDette er det samme som en utvinningstillatelse. En utvinningstillatelse er en konsesjon, dvs. en rettighet til å drive leting etter petroleumsressurser og deretter produksjon i et angitt geografisk område på norsk sokkel i et begrenset tidsrom. Konsesjonen gis av myndighetene ved Olje- og energidepartementet til ett eller flere kvalifiserte oljeselskap. Samarbeidet mellom oljeselskapene i en lisens er regulert i avtaler vedtatt av myndighetene., og som på alle rettighetshaveres vegne forestår den daglige ledelse av lisensens arbeid. Operatøren utpekes av Olje- og energidepartementet. for rundt ti lete- og avgrensningsbrønner. I tillegg er Aker BP partner i ytterligere fire letebrønner som skal bores i løpet av året.

8. juni 2018 har Alvheim FPSOFloating production, storage and offloading. Flytende produksjonsenhet, med lagring og lossing.Floating production, storage and offloading unit vært ti år i drift. Snart er 400 millioner fat olje produsert. Nå lanseres en ny visjon om å produsere en milliard fat olje fra Alvheim-området.

»Det har vært ti fantastiske år. Utviklingen på Alvheim er et eksempel for hele norsk olje og gassindustri», sier administrerende direktør i Aker BP, Karl Johnny Hersvik.

Alvheim-området ligger i midtre Nordsjøen ved grensen til britisk sektor.

Selve Alvheimfeltet består av strukturene Kneler, Boa, Kamelon og East Kamelon og funnene Viper-Kobra og Gekko. Alvheim-området inkluderer satellittfeltene Bøyla, Vilje og Volund. Alle feltene produseres via Alvheim FPSOFloating production, storage and offloading unit, som ble satt i drift 8. juni 2008.

Utviklingen av Alvheim-området er historien om en organisasjon og et partnerskap* som hele tiden har sett etter nye muligheter i nærområdet, testet ut- og implementert nyutviklet teknologi og med et kontinuerlig fokus på sikker, stabil og kostnadseffektiv drift – og med kontinuerlig høy produksjon.

Utviklingen av feltet er også blitt lagt merke til i industrien: Alvheim er i år en av tre finalister til årets IORIncreased Oil Recovery - økt oljeutvinningIncreased Oil Recovery-pris, som Oljedirektoratet deler ut. Vinneren blir annonsert på ONS i Stavanger 28. august.

mer informasjon om IORIncreased Oil Recovery-prisen

Ved oppstart var målet å produsere 250 millioner fat oljeekvivalenter fra Alvheim-området. I sommer vil vi passere 400 millioner fat.

Og historien stopper ikke her: Vår visjon er nå produsere så mye som en milliard fat oljeekvivalenter fra nærområdet.

»Det blir ingen «walk in the park». Vi må kontinuerlig jobbe med effektivitet, forbedre flyteffektiviteten, finne nye reservoarer og fase inn nye brønner – og samtidig kontinuerlig jobbe med å redusere kostnadene. Vi skal stå på og sikre at Alvheim blir et mønsterfelt på norsk sokkel også i årene som kommer», understreker Hersvik.

*Rettighetshavere på Alvheim er Aker BP (operatørEn av rettighetshaverne i en lisensDette er det samme som en utvinningstillatelse. En utvinningstillatelse er en konsesjon, dvs. en rettighet til å drive leting etter petroleumsressurser og deretter produksjon i et angitt geografisk område på norsk sokkel i et begrenset tidsrom. Konsesjonen gis av myndighetene ved Olje- og energidepartementet til ett eller flere kvalifiserte oljeselskap. Samarbeidet mellom oljeselskapene i en lisens er regulert i avtaler vedtatt av myndighetene., og som på alle rettighetshaveres vegne forestår den daglige ledelse av lisensens arbeid. Operatøren utpekes av Olje- og energidepartementet., 65 prosents andel), Conoco Phillips (20 prosent) og Lundin (15 prosent).

Det blir lagt merke til at Aker BP skal styre Ivar Aasen fra Trondheim sentrum. NRK Trøndelag har laget denne reportasjen fra kontrollrommet:

Aker BP skaper med dette nye arbeidsplasser i Trondheim, og er akkurat nå på jakt etter de som skal styre Ivar Aasen fra land.

Det betyr 15 nye kontrollromsoperatører i Ivar Aasen-teamet. Interesserte bør ha 3 års erfaring fra relevant prosessindustri, og gjerne erfaring som prosess-/kontrollromsoperatør fra offshorerelatert virksomhet.

Utdanning kan være fagbrev og fagskole/ingeniørhøgskole innen prosess/kjemi. Solid erfaring vil kompensere for manglende formell utdanning.

Se rekrutteringsfilmen fra Aker BP og SØK på stillingen her.

Aker BP has been offered interests in six new production licenses in Norway, of which two as operator, in the 24th licensing round. All the new licenses are located in the Barents Sea.

Gro Gunleiksrud Haatvedt
SVP Exploration

Gro Gunleiksrud Haatvedt, SVP Exploration of Aker BP comments:
«We are very pleased with today’s awards in the 24th licensing round, which further strengthen our presence and operator position in the Barents Sea. These awards will provide more valuable exploration potential and supplement our existing portfolio, and position the company for further growth in the region».

The 24th licensing round awards were announced by the Ministry of Petroleum and Energy on Monday 18 June 2018. In total, 12 licenses were offered to a total of 11 companies. For more details on the awards, please see the attached files from the Ministry of Petroleum and Energy.

Map 24th Round Barents Sea

Awards 24th Round

More:

Oljedirektoratet:12 utvinningstillatelser tilbys til 11 selskap i 24. konsesjonsrunde

Regjeringen.no: 24. konsesjonsrunde – tilbud om andeler

Kontakter:
Investor kontakt: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Media kontakt: Ole-Johan Faret, Pressetalsmann, tel.: +47 402 24 217

Aker BP partners with Resoptima for implementing next-generation reservoir management software

In front from left: Karl Johnny Hersvik CEO Aker BP ASA, Atila Mellilo CEO Resoptima AS In back from left: Christen Minos Commercial Support Manager, Birgitte Grundfør Senior Advisor Commercial and Tore Felix Munch Chairman TFM Invest AS

Aker BP has entered a three-year cooperation agreement with Resoptima for the incorporation of Resoptima’s software solutions into Aker BP’s digitalization effort within reservoir management. In addition Aker BP will take a 15% equity position in Resoptima. Deploying the Resoptima solutions across the Aker BP producing assets is aligned with Aker BP’s ambitious digitalization agenda.

Both Aker BP and Resoptima see great potential for the E&P industry to increase recovery while reducing costs by leveraging the power of data-driven reservoir modeling and management. By facilitating a better collaboration between the subsurface disciplines, as well as rapidly updating reservoir models as new data becomes available, Aker BP will be able to better account for uncertainty, improve its decision-making processes and increase its operational efficiency.

Resoptima’s reservoir modeling and data conditioning software ResX allows E&P companies to rapidly create reliable reservoir models through consistent integration of all available reservoir data while accounting for uncertainty. The software can be used to run virtual experiments of future production scenarios and help operators making the right decisions to maximize recovery, while minimizing the financial risk.

The collaboration will also allow Resoptima to further develop the technologies through access to Aker BP’s subsurface competence and reservoir data.

“We are a leading company for digitizing E&P, and Resoptima’s technologies will help us maintain our technical leadership in reservoir monitoring and modeling to maximize value creation from our fields,” said Karl Johnny Hersvik, CEO of Aker BP. “Efficient operations require up-to-date digital models for reservoir simulation and optimization and our cooperation with Resoptima will bring forth significant value in this discipline”.

“Aker BP is committed to leveraging their impressive data platform in order to make faster and better business decisions,” said Atila Mellilo, CEO of Resoptima. “The cooperation will also enable us to improve our products based on the common view we share with Aker BP regarding the intelligent use of data for driving business decisions in the E&P sector”.

About Resoptima

Resoptima was established in 2010 in Norway and is today a global company with offices in Oslo, Stavanger, London, Kuala Lumpur and Houston. Resoptima delivers scalable software and high-value services for reservoir modelling and reservoir management, efficiently integrating static and dynamic data in repeatable modelling workflows.

AkerBP utarbeider en avslutningsplan for disponering av de opprinnelige innretningene på Valhall feltet. Som en del av denne planen vil det bli gjennomført en konsekvensutredning for fjerning og disponering av innretningene.

I henhold til regelverket sendes programmet for konsekvensutredningen for avviklingen på offentlig høring til berørte myndigheter, parter og interesseorganisasjoner.

Kommentarer til programmet kan sendes til regulatory@akerbp.com innen 19.09.2018.

Programmet kan lastes ned her

Aker BP ASA publiserer resultat for andre kvartal og første halvår 2018, fredag 13. juli 2018 kl. 07:00.

Presentasjon av resultatet vil finne sted i Akerkvartalet,
Oksenøyveien 10 (bygg B), Lysaker fra klokken 08:30.

Vennligst send påmelding til registration@akerbp.com innen 12. juli 2018 klokken 12:00.

Det vil være mulig å følge kvartalspresentasjonen direkte via webcast på vår hjemmeside.

Investor kontakt:
Kjetil Bakken, VP Investor Relations, tlf.: +47 91 889 889
Media kontakt:
Tore Langballe, VP Communications, tlf.: +47 907 77 841

Aker BP og Aker Solutions inngår allianse for levering av modifikasjonsprosjekter på tre av Aker BPs felt.

̶  Vi har jobbet tett med Aker Solutions gjennom en årrekke og er stolte av å etablere alliansen – kanskje den første og største i sitt slag på norsk sokkel. Avtalen er i tråd med Aker BPs strategi med å inngå langsiktige og forutsigbare avtaler med samarbeidspartnere, sier prosjektdirektør i Aker BP Olav Henriksen.

Allianseavtalen baserer seg på rammeavtalen BP Norge og Aker Solutions signerte i 2015. Den gjelder alt modifikasjonsarbeid på offshoreinstallasjonene på Valhall, Ula og Skarv. Fabrikasjonsvekstedene til Aker Solutions i Egersund og i Sandnessjøen er også involvert i arbeid gjennom Modifikasjonsalliansen.

Felles organisasjon

En organisasjon for Modifikasjonsalliansen ble etablert i april. Organisasjonen, med nærmere 500 personer, er samlokalisert i Stavanger.

̶  Vi vet at vi er avhengige av at både vi og våre leverandører utvikler oss for å kunne konkurrere i et framtidig marked. Aker BP og Aker Solutions har de siste årene jobbet sammen for å effektivisere arbeidsprosesser. Det var likevel et sterkt ønske fra begge selskapene å klare å etablere en allianse for modifikasjonsarbeid, forklarer leder for modifikasjonsprosjekter Marie Ravnestad i Aker BP.

̶  Vi har jobbet mye med å beskrive hvordan arbeidsomfanget skal defineres for hver installasjon. Det var viktig å få etablert en avtale med felles drivere som sikrer at det som gir gode resultater for kunden også skal gi gode resultater for leverandøren, sier Ravnestad.

Mål om å bli ledende

Allianseavtalen ble signert 6. juli. En viktig milepæl for Aker BP, sier prosjektdirektør Olav Henriksen.

̶  Målet vårt et å bli den ledende prosjektorganisasjonen for modifikasjoner på norsk sokkel. Med den kompetansen og erfaring disse to selskapene har opparbeidet seg ligge forholdene godt til rette for at vi sammen skal nå det målet, avslutter Henriksen.

Kun på engelsk

A recording of the webcast is available here:

2018-Q2 presentation

Aker BP ASA reports total income of USD 975 million and operating profit of USD 552 million for the second quarter 2018. Net profit was USD 136 million and earnings per share were USD 0.38. The company paid a dividend of USD 0.3124 (NOK 2.51718) per share in the quarter.

The company’s net production in the second quarter was 157.8 (142.7) thousand barrels of oil equivalents per day (“mboepd”). The increase was primarily a result of the acquisition of Hess Norge in December 2017. The company remains on track to reach its full-year production estimate of 155-160 mboepd.

Revenues were positively impacted by increased oil and gas prices. Average realised prices were USD 76 (51) per barrel of oil, and USD 0.28 (0.18) per standard cubic metre (“scm”) of natural gas.

Production costs amounted to USD 164 (121) million or USD 11.4 (9.3) per barrel oil equivalents (“boe”). For the first six months, production cost per boe averaged USD 11.8, and remains in line with the company’s estimate of USD 12 per boe for the full year.

Exploration expenses amounted to USD 75 (75) million. One exploration well was drilled in the quarter, which resulted in a non-commercial discovery. Exploration expenses were also impacted by two seismic surveys in the Barents Sea. Total exploration spend for 2018 is now estimated to be USD 425 (previously 350) million due to increased activity following the Frosk discovery and recent license awards.

Operating profit (EBIT) was USD 552 (210) million, after depreciation of USD 183 (184) million or USD 12.7 (14.2) per boe. Net financial expenses were USD 22 (84) million, while taxes amounted to USD 395 (67) million. Net profit was USD 136 (60) million for the second quarter.

Investments in fixed assets amounted to USD 302 (271) million, driven by field development projects across the company’s portfolio. The Aker BP-operated field developments of Ærfugl, Valhall Flank West and Skogul as well as the Johan Sverdrup development are all progressing according to plan. The company’s capex estimate for 2018 remains unchanged at around USD 1.3 billion.

Abandonment expenditures were USD 72 (20) million, driven by the ongoing campaign to plug and abandon old wells on the Valhall field. The abandonment program has progressed ahead of plan, and the rig will in the fourth quarter be re-allocated to production drilling. The total estimated abandonment spend for 2018 has consequently been reduced to USD 250 (previously 350) million.

The company’s net interest-bearing debt was USD 3.0 billion at the end of the second quarter. Total available liquidity was USD 3.6 billion.

In May, the company paid a quarterly dividend of USD 112.5 million or USD 0.3124 per share, and the Board of directors has resolved to pay the same dividend in August. The plan is to maintain this level for the remainder of 2018, implying total annual dividends of USD 450 million. The Board’s ambition is to increase the annual dividends by USD 100 million per year until 2021.

2018-Q2 report

Investor contact:
Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841

Evy Glørstad-Clark

Evy Glørstad-Clark has been appointed SVP Exploration of Aker BP, and will be part of the Executive Management Team. She currently holds a position as Asset Development Manager for NOAKA, and has been with the company since 2011. She holds a PhD in Petroleum geology/ sedimentology. She will commence in her new role on August 1^st 2018.

Gro Gunleiksrud Haatvedt will take a position as Head of Exploration at Neptune Energy in London.

Karl Johnny Hersvik, CEO of Aker BP states: “Evy has a strong managerial and professional track record. I am looking forward to welcoming her to my Executive team, and I am confident that she will be a valuable contributor to delivering on our ambitious exploration agenda.”

Hersvik continues: «I would like to express my gratitude to Gro for her invaluable effort for Aker BP in the past four years, and I wish her all the best in her new endeavors.“

Aker BP has entered into an agreement with Total E&P Norge to acquire its interests in a portfolio of 11 licences on the Norwegian Continental Shelf for a cash consideration of USD 205 million.

The portfolio includes four discoveries with net recoverable resources of 83 million barrels oil equivalents («mmboe»), based on estimates from the Norwegian Petroleum Directorate.

Two of the discoveries, Trell and Trine, are located near the Aker BP-operated Alvheim field and are expected to be produced through the Alvheim FPSOFloating production, storage and offloading. Flytende produksjonsenhet, med lagring og lossing.Floating production, storage and offloading unit.

The Alve Nord discovery is located north of the Aker BP-operated Skarv field, and can be produced through the Skarv FPSOFloating production, storage and offloading unit.

The Rind discovery is part of the NOAKA area where the total recoverable resources are estimated to more than 500 mmboe, and where Aker BP is working towards a new area development.

In addition to these discoveries, the transaction also provides the company with increased interest in exploration acreage near the Aker BP-operated Ula field. The transaction is subject to approval by Norwegian authorities.

Karl Johnny Hersvik, CEO of Aker BP comments:

«We see a huge value creation potential in maximizing production through our operated production hubs. This requires continuous development and optimisation of the existing reserves and resources, as well as adding new resources through exploration and acquisitions of existing discoveries.

With this transaction, we get access to new tie-back opportunities in the Alvheim and Skarv areas, we strengthen our resource base in the NOAKA area, and we increase our interest in exploration acreage near the Ula field. These new resources will further strengthen our long-term production profile and contribute positively to future earnings.»

På ONS 2018 vil vi vise hvordan vi vil løse utfordringene vårt selskap og vår bransje står over for. For å nå våre mål, er det et stort behov for endring og innovasjon.

Vi må få kostnadene ned og produktiviteten opp ved å forbedre måtene vi jobber på og tenke nytt gjennom hele verdikjeden.

Vi vil være i førersetet når det gjelder digitalisering. Det vil du se når du besøker standen vår. Visjonen er å digitalisere våre operasjoner fra vugge til grav.
Det vil gi oss:

• Økt produktivitet
• Bedre kvalitet
• Korte ned tid vi bruker på ulike prosesser
• Redusere miljøpåvirkning og bedrer sikkerheten til våre ansatte

Vi vil gjøre ting annerledes og utfordre industriens måte å tenke og operere. Vi blir gjerne oljebransjens svar på Spotify eller Google!

For å bli mer digitale er det tre viktige områder vi jobber med:

• Prioritering av data ligger som fundamentet i bunn (mange kilder/siloer)
• Det er å kunne nyttiggjøre seg dataene, og vi samarbeider med Cognite for å løse dette.
• Det er å dele og tilgjengeliggjøre data – ikke bare for oss i Aker BP, men for alle aktørene i verdikjeden. Derfor bruker vi utrykket data liberation.

Vi ønsker oss en norsk sokkel hvor:

• Alle data er tilgjengelig med en åpen API standard, som muliggjør big data analyse
• At vi separerer data og applikasjoner
• At data deles på tvers av verdikjeden

Om Aker BP

• Aker BP er et fullverdig oljeselskap med en rekke aktiviteter innen leting, utbygging og drift på den norske kontinentalsokkelen.
• Vi har en klar ambisjon; å skape det ledende lete- og produksjonsselskapet offshore.
• Målt i produksjon er Aker BP et av de største uavhengige børsnoterte oljeselskapene i Europa. Gjennomsnittlig produksjon første halvår 2018 var 158 000 fat per dag
• Aker BP har en balansert portefølje og er operatørEn av rettighetshaverne i en lisensDette er det samme som en utvinningstillatelse. En utvinningstillatelse er en konsesjon, dvs. en rettighet til å drive leting etter petroleumsressurser og deretter produksjon i et angitt geografisk område på norsk sokkel i et begrenset tidsrom. Konsesjonen gis av myndighetene ved Olje- og energidepartementet til ett eller flere kvalifiserte oljeselskap. Samarbeidet mellom oljeselskapene i en lisens er regulert i avtaler vedtatt av myndighetene., og som på alle rettighetshaveres vegne forestår den daglige ledelse av lisensens arbeid. Operatøren utpekes av Olje- og energidepartementet. for feltsentrene Valhall, Ula, Ivar Aasen, Alvheim og Skarv.
• Selskapet har hovedkontor på Fornebu utenfor Oslo og kontorer i Stavanger, Trondheim, Harstad og Sandnessjøen.
• Selskapet har over 1400 ansatte, og er i sterk vekst: i løpet av 2018 vil vi rekruttere nærmere 300 medarbeidere.

Aker BP er eid av Aker ASA (40 %), BP (30 %) og øvrige aksjonærer (30 %).

Equinor og Johan Sverdrup-partnerskapet leverer mandag plan for utbygging og drift (PUDPlan for utbygging og drift som leveres myndighetene for godkjenning.) for andre fase av prosjektet til Olje- og energidepartementet. 

Les: hele Aker BP ASAs pressemelding (på engelsk)

In collaboration with Cognite and Framo, Aker BP intensifies the digitalisation of offshore operations; new smart service contract will change the traditional approach to maintenance.

The Ivar Aasen platform in the North Sea provides Aker BP with more than just oil. It also transmits vast volumes of data back to shore. The interpretation of these data are now set to make the platform amongst the most technically advanced worldwide.

Lars Atle Andersen

«Aker BP’s vision is to digitalize all our operations from cradle to grave. Key elements are transforming business models and activities through digital technologies and the liberation of data flows. The smart service contract with Framo and Cognite is an important milestone on this journey, and underpins our ambition to take the lead in digitalization», says Lars Atle Andersen, VP Operations – Technology & Digitalization in Aker BP.

A successful collaboration with suppliers

By using Cognite’s data platform, contextualised live data is made available from Ivar Aasen. This provides Framo, the supplier of pumps to Ivar Aasen, real-time access to data from their equipment.

Trond Petter Abrahamsen

«With Cognite making live and contextualised data available, we at Framo are able to create our own ‘apps’ to predict the status of our equipment, allowing us to plan efficient maintenance. The new system sends intelligent data on our pumps, so we can predict how the pumps will perform in the future» says Trond Petter Abrahamsen, Managing Director of Framo Services AS.

The overall goal of the collaboration between Aker BP, Cognite and Framo is to change the traditional approach to maintenance. Continuous flow of live offshore data allows for onshore monitoring of equipment replacing unnecessary scheduled maintenance activities with maintenance when needed.

This also calls for a new approach to agreements, and on Wednesday 29th of August a special smart service contract between Aker BP and Framo Services will be signed.

«The newly available insights of how the pumps of a specific installation are functioning, results in more efficient maintenance. While our service agreements previously just defined hourly rates, we will now focus on uptime. This is something completely new for us and has required the design of new smart contracts with Aker BP»,” explains Trond Petter Abrahamsen. 

Profitable at 35 USD per barrel

Aker BP will continue to digitalise their offshore operations, and the company’s objective is to carry out profitable development projects even at oil prices below 35 USD per barrel. Cognite’s data platform is a core enabler for these ambitions. Cognite liberates and organises Aker BP’s industrial data to create a digital representation of the industrial reality, both back in time and in real-time. It enables AkerBP to extract useful insights on its operations but also to share its data and insights with partners like Framo and to enable new services and business models.

«The more we share, the better. If we can apply this technology in all our fields, our operations will improve. We are confident that this is a smart move. That’s why we are clearly stating what we want to achieve and hope that many others will follow», says Lars Atle Andersen from Aker BP.

FACTS

Cognite

Norwegian SaaS technology company with ambition of providing the world’s best industrial IOT data platform. The strength of the platform lies with its ability to contextualize all industrial data types. Once contextualized, the Cognite Data Platform provides extensive toolkits and APIs to build unlimited models and applications and unlock the data´s value for its end customers. The applications are immense, from wind and energy to shipping, offshore and transportation. Cognite´s technology is in daily operation at large industrial companies. www.cognite.com

Framo

Established in 1938 and currently a world-leading supplier of high-quality pump systems for both global shipping and the offshore industry. The company has a total 1,200 employees and its main office on the island of Askøy close to Bergen. It also has eight branch offices. The company’s equipment is produced locally in three different factories in the Bergen area. www.framo.com

The Ivar Aasen field

The Ivar Aasen field is located in the northern part of the North Sea, some 175 km west of Karmøy. The sea depth at the platform is approximately 110 metres.

The initial discovery was made in 2008. Production started on 24 December 2016. The first oil production at the Ivar Aasen field was four years after submission of the plan for development and operation (PDO).

The development of Ivar Aasen covers resources from five licences: PL 001B, 028 B, 242, 338 and 457. The licence-holders in the five fields signed an agreement in June 2014 specifying ownership of the unit-based development.

The partners involved in the Ivar Aasen field are: Aker BP ASA (34.7862%), Equinor ASA (41.4730%), Bayerngas Norge (12.3173%), Wintershall Norge (6.4615%), VNG Norge (3.0230%), Lundin Norway (1.3850%), OKEA (0.5540%)

CONTACT

Ole-Johan Faret, Press spokesperson, Aker BP
Mobile: +47 402 24 217 / Email: ole-johan.faret@akerbp.com

Andrzej Golebiowski, Chief Commercial Officer, Cognite
Mobile: +47 452 14 904 / Email: Andrzej.Golebiowski@cognite.com

Trond Petter Abrahamsen, Managing Director, Framo Services AS
Mobile: +47 901 45 266 / Email: tpa@framo.no

Aker BP and Google demonstrates how digital solutions has started to reconstruct the oil industry

Aker BP’s CEO, Karl Johnny Hersvik on stage with Google’s Darryl Willis, VP Oil, Gas, and Energy, Google Cloud. They are speaking together and demonstrating Cognite’s data platform at ONS2018 in Stavanger

Maersk Drilling and Aker BP have agreed to a one-year contract to deploy high-performance rig Maersk Integrator on the Norwegian shelf from June 2019. The contract is founded on the alliance that the parties entered into in 2017.

The Maersk Integrator will become the first rig to be contracted fully under the scope of the alliance between Aker BP, Maersk Drilling and Halliburton. When the high-performance jack-up rig finishes its current campaign on Gina Krog in June 2019, it will go directly to Ula for a new one-year assignment with Aker BP.

The tripartite alliance was announced last year and focuses on working in collaborative relationships which maximise value for all parties involved. This is established in contracts using a shared incentives model, thereby securing mutual commitment to reduce waste and deliver value. The contracts are based on market-rate terms but add the possibility of a sizeable upside for all parties, based on actual delivery and performance.

“This contract really symbolises the close working relationship between Aker BP and Maersk Drilling that we established in late 2017. This is the first contract fully founded on our alliance framework. With shared incentives, all parties will work as one team towards delivering safe and efficient operations at the lowest possible well cost,” says Jørn Madsen, CEO of Maersk Drilling.

In the tripartite jack-up alliance, the parties are exploring new ways of collaborating to increase the efficiency of drilling campaigns. In addition to setting up shared goals and incentives, it includes integrated project organisations, aligned safety procedures, and a one-team mindset guided by the principles of ‘best man for the job’ and ‘best for the alliance’.

Maersk Integrator is an XL Enhanced ultra-harsh environment jack-up rig that is customised for the North Sea. The rig is currently stationed at the Gina Krog field on the Norwegian shelf where it has been engaged in its first-ever drilling campaign since June 2015. When that campaign finishes in June 2019, the rig will move south to the Ula field to deploy for Aker BP. As an integral part of the alliance framework, Halliburton will function as service provider for the new campaign.

“With this contract, we will truly see the value of our alliance as we work together to reduce waste and lower the cost per barrel on Ula. The collaboration between our companies is under continuous development due to the alliance, and we expect to gain more and more mutual benefits from working together in new and innovative ways,” says Tommy Sigmundstad, SVP Drilling and Wells at Aker BP.

Maersk Drilling, Aker BP and Halliburton entered the joint jack-up alliance in November 2017. The alliance aims at lowering the cost per barrel and increasing profitability for the partners through implementation of digital solutions, increased collaboration efficiency, and standardisation and simplification of processes. It is formalised in a five-year agreement with the option to extend for an additional five years.

With this contract, Maersk Drilling has added a total of 2,373 days and USD 313m to its backlog in 2018.

Jens Umehag, CFO BP Ventures og Karl Johnny Hersvik, CEO Aker BP.

BP and Aker BP ønsker å se på mulig samarbeid i utvikling og utrulling av avansert teknologi.

Les pressemeldingen (kun på engelsk): BP and Aker BP form strategic technology venture alliance

Aker BP has entered into an agreement with Equinor Energy to acquire its 77.8 percent interest in the King Lear gas/condensate discovery in the Norwegian North Sea for a cash consideration of USD 250 million.

Karl Johnny Hersvik, CEO of Aker BP comments:

“The King Lear discovery is one of the largest undeveloped discoveries on the Norwegian Continental Shelf, and represents an excellent opportunity for Aker BP. Our goal is to develop King Lear as a satellite to Ula. This will improve the capacity utilization at the Ula facilities and provide significant additional volumes of injection gas to support increased oil recovery from the Ula field.”

Net recoverable resources in the King Lear discovery are estimated to 77 million barrels oil equivalents («mmboe») according to data from the Norwegian Petroleum Directorate. When including the increased oil recovery potential from Ula, Aker BP estimates a total resource addition of more than 100 mmboe net to the company.

King Lear is located approximately 50 km south of the Ula field centre, in production licences 146 and 333. The transaction covers Equinor Energy’s 77.8 percent interest in the two licences. The remaining 22.2 percent interest is held by Total E&P Norge.

The transaction is subject to approval by Norwegian authorities.

Kun på engelsk
Aker BP (OSE:AKERBP) reports total income of USD 1,000 million and operating profit of USD 548 million for the third quarter 2018. Net profit was USD 125 million and earnings per share were USD 0.35. The company paid a dividend of USD 0.3124 (NOK 2.53) per share in the quarter.

The company’s net production in the third quarter was 150.6 (131.9) thousand barrels of oil equivalents per day (“mboepd”). For the first nine months, production was 155.6 mboepd, and the company still expects full-year production to be within the previously communicated range of 155-160 mboepd.

Record high revenue

Revenues were positively impacted by increased oil and gas prices. Average realised prices were USD 78 (55) per barrel of oil, and USD 0.30 (0.20) per standard cubic metre (“scm”) of natural gas.

Production costs amounted to USD 165 (134) million or USD 11.9 (11.1) per barrel oil equivalents (“boe”). For the first nine months, production cost per boe averaged USD 11.8, and remains in line with the company’s estimate of around USD 12 per boe for the full year.

Successful appraisals

Exploration expenses amounted to USD 94 (64) million. This was driven by three dry exploration wells, as well as seismic acquisitions and field evaluation expenses. The appraisal wells at Gekko and Hanz were successful. The company’s estimated exploration spend for 2018 has been revised down to USD 400 million (previously USD 425 million).

Operating profit (EBIT) was USD 548 (219) million, after depreciation of USD 189 (175) million or USD 13.6 (14.5) per boe. Net financial expenses were USD 58 (9) million, while taxes amounted to USD 365 (97) million. Net profit was USD 125 (112) million for the third quarter.

Reduced capex estimate

Investments in fixed assets amounted to USD 340 (226) million, driven by field development projects across the company’s portfolio. The Aker BP-operated field developments of Ærfugl, Valhall Flank West and Skogul as well as the Johan Sverdrup development are all progressing according to plan.  The company’s capex estimate for 2018 has been reduced from around USD 1.3 billion to around USD 1.25 billion.

Abandonment payments (“abex”) amounted to USD 72 (27) million, driven by a campaign to plug and abandon old wells on the Valhall field. This campaign has now been completed, within the revised abex estimate of USD 250 million for 2018.

The company’s net interest-bearing debt was USD 2.85 billion at the end of the third quarter. Total available liquidity was USD 3.7 billion. In August, the company paid a quarterly dividend of USD 112.5 million or USD 0.3124 per share. The Board has resolved to pay the same amount in dividend in November.

Strengthening Aker BP’s position in core areas

In July, Aker BP entered into an agreement to acquire 11 licences, including four discoveries, from Total E&P Norge for USD 205 million. In October, the company entered into an agreement to acquire 77.8 percent of the King Lear discovery from Equinor for USD 250 million. Both transactions are subject to approval by Norwegian authorities.

Presentation and report
Third quarter 2018 presentation
Third quarter 2018 report