Aker BP Commences Oil Production at Solveig Phase 2 Development in North Sea

Aker BP's Solveig Phase 2 Goes Live

Aker BP has officially commenced oil production from the much-anticipated Solveig Phase 2 development, marking a significant milestone in its North Sea operations. This strategic project, which is located approximately 15 kilometers south of the Edvard Grieg platform, has been delivered not only on time but also within budget, underlining Aker BP's commitment to operational excellence.

The Solveig Phase 2 project adds an impressive 39 million barrels of oil equivalent in recoverable resources to the already resource-rich Solveig field. This new phase includes three wells that tap into both new and existing segments of the reservoir, ensuring that production levels remain robust while optimizing the existing capacity of the Edvard Grieg platform.

Karl Johnny Hersvik, CEO of Aker BP, highlighted the significance of this project’s timely execution, stating, "Aker BP has once again delivered a project safely, efficiently, and with high quality. Bringing Solveig Phase 2 on stream on time and within budget demonstrates the strength of our suppliers and our execution model - creating value for our shareholders, partners, and society."

The development's success is attributable to close collaboration with several leading suppliers in the energy sector. Notably, TechnipFMC has provided the subsea systems integral to the project, while Moreld Apply has handled modifications to the Edvard Grieg platform to accommodate the new production. The drilling operations were carried out with support from Odfjell Drilling and Halliburton, as part of Aker BP’s drilling and wells alliance.

The initiation of Solveig Phase 2 marks Aker BP's fifth project to be sanctioned in 2022, further solidifying the company’s leading role in the oil and gas industry. With a 65 percent working interest in both the Solveig and Edvard Grieg fields, Aker BP collaborates with partners OMV Norge AS, holding a 20 percent share, and Harbour Energy Norge AS, with a 15 percent stake, to optimize resource extraction in the region.

Aker BP's strategic commitments not only enhance production efficiency but also align with broader societal values, reflecting their dedication to safety, sustainability, and innovative practices in the energy sector. With ongoing and future projects, Aker BP is setting a benchmark for excellence and reliability in offshore oil production, promising a stable and enriched energy future.

As the company continues to engage industry leaders in advancing technology and operational methodologies, the future looks promising for Aker BP and its partners. The launch of the Solveig Phase 2 development exemplifies the effective collaboration necessary for achieving outstanding results in a challenging industry.

In conclusion, Aker BP's latest initiative underscores its strategic vision and operational prowess, paving the way for continued growth and resilience in the North Sea oil sector. Investors, stakeholders, and the communities around these operations will undoubtedly benefit from ongoing efforts to maximize output while maintaining high standards of environmental and operational integrity.