Aker wins contract to extend manufacturing in Åsgard area

Aker Options has been awarded a contract from Equinor for modifications to the Åsgard B semi-submersible fuel and condensate processing platform within the Norwegian Sea to allow elevated manufacturing.

The Åsgard B platform is a part of the Åsgard area, which incorporates the Midgard, Smørbukk and Smørbukk South deposits.

The most recent contract award follows the choice of Åsgard license companions to speculate 1.4 billion Norwegian kroner ($ 164.1 million) to additional develop the Åsgard area and implement the challenge low strain of Åsgard B.

Underneath the Nkr 800 million ($ 93.8 million) contract, Aker shall be chargeable for the engineering, procurement, building and set up of recent tools.

Aker plans to begin work instantly, with completion anticipated in 2024. He’ll undertake challenge administration and engineering work at his workplace in Trondheim, in addition to prefabrication of the location in Egersund.

Geir Tungesvik, Senior Vice President of Equinor Initiatives, stated: “We’re happy that the house owners of Åsgard have given the inexperienced mild for the low strain challenge. The challenge will improve manufacturing from current wells in Smørbukk and assist obtain deliberate manufacturing from the sphere. ”

Equinor stated the transition to low strain manufacturing would enhance area restoration.

As a part of the modification works, the re-injection compressors of the Åsgard B fuel processing platform shall be changed to scale back the inlet strain. It additionally contains the reconstruction of elements of the higher floor remedy plant to allow excessive and low strain manufacturing.

Åsgard Vice President of Operations Randi Hugdahl stated: “We will nonetheless produce 400 to 500 million barrels of oil equal from the sphere. This implies worth creation within the order of Nkr150bn – Nkr200bn.

“The present restoration price of the sphere is near 50%, however our ambition is to extract 60% of the hydrocarbons from the reservoirs earlier than the sphere must be closed.”

Equinor plans to start low strain manufacturing on the sphere in 2023.

Equinor operates the Åsgard license with a 34.57% stake whereas different companions embrace Petoro (35.69%), Vår Energi (22.06%) and Whole E&P Norge (7.68%).

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