OSLO, NORWAY, 15 DECEMBER 2017
Aker BP ASA, the operator of the Valhall and Hod fields, has submitted the plan for development and operation (PDO) for Valhall Flank West to the Norwegian Ministry of Petroleum and Energy, on behalf of the Valhall joint venture.
As announced on December 4th 2017, Pandion Energy AS has entered into an agreement with Aker BP ASA to acquire a 10 percent interest in the Valhall area. The transaction is subject to customary conditions for completion, including approval by the Ministry of Oil and Energy, Ministry of Finance and relevant competition clearance. The effective date of the transaction will be 1 January 2017, and closing is expected by the end of 2017.
Valhall is one of the largest oil fields in the southern part of the Norwegian sector in the North Sea. The Valhall Flank West project aims to continue the development of the Tor formation in Valhall on the western flank of the field, with startup of operation in fourth quarter 2019.
Valhall Flank West will be developed from a new Normally Unmanned Installation (NUI), tied back to the Valhall field centre for processing and export.
- First oil in fourth quarter 2019
- Targeting the Tor formation in the Valhall West Flank
- Drainage by natural depletion, with option for future water injection
- Six producers with option to convert two producers into water injectors
- Normally Unmanned Installation (12 well slots) with helideck access
The wellhead platform at Valhall Flank West will be fully electrified, and will be designed to minimize the need for maintenance activities. The platform will be remotely operated from the Valhall field centre.
Recoverable reserves for Valhall Flank West are estimated to be around 60 million barrels of oil equivalent. Total investments for the development are estimated to NOK 5.5 billion in real terms.
For more information on Valhall, please see: https://www.akerbp.com/en/our-assets/production/valhall/