Aker BP

Earnings Release • Nov 3, 2021

Ærfugl phase 2 starts production ahead of schedule and on budget

Operator Aker BP and partners Equinor, Wintershall Dea Norge and PGNiG Norway report that production has started from Ærfugl phase 2 in the Norwegian Sea.  

With this start-up, the entire Ærfugl field is now in production.  

"I am very proud of the deliveries from the project team and our alliance and licence partners. This highly profitable project has been completed safely and efficiently, within budget and ahead of schedule. Major parts of the development project have taken place during the corona pandemic. This truly is One Team at its best," says CEO in Aker BP, Karl Johnny Hersvik.   

"Aker BP's goal is to produce oil and gas with as low cost and emissions as possible to maximize value creation for our owners and for the society at large. The Ærfugl project demonstrates our ability to deliver on this strategy," says Hersvik.

The Ærfugl development is tied into the existing production vessel (FPSO) on the Skarv field, which is located approx. 210 km west of Sandnessjøen. The field has been developed in two phases, with three wells in the southern part as phase 1 and another three wells in the northern part of the field in phase 2. 

The Ærfugl field development adds five years of lifetime to the Skarv FPSO, and reduces the CO2 emissions by 30-40% per barrel produced.

The Ærfugl project has brought significant local ripple effects for suppliers in the Helgeland region. The subsea modules, which consist of world leading technology and building blocks from around the world, have been assembled for completion in Sandnessjøen and then transported offshore.

Read more about the Ærfugl project

Contacts:

Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889 Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

About Aker BP:

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker 'AKRBP'. More about Aker BP at www.akerbp.com.