OSLO, NORWAY, 22 JUNE 2019
The Valhall Flank West topsides were installed on the Valhall field on Saturday, 22 June, just 14 months after the first steel was cut at Kværner’s yard in Verdal. Both the topsides and the jacket were delivered ahead of schedule, under budget and with no serious injuries. Pandion Energy holds a 10 percent interest in the Valhall field, where Aker BP is operator.
The platform is the first to be delivered under the wellhead platform alliance between Aker BP, Aker Solutions, Kværner and ABB. It sailed from Kværner in Verdal on Sunday 16 June and arrived at the field with no carry-over-work from the yard, meaning a significant reduction in the work scope offshore.
Pandion Energy has since acquiring a 10 percent share of the Valhall and Hod fields in December 2017 worked closely together with the operator to further develop the area.
“This is an important milestone for the Valhall Flank West development. We are very impressed with the quality of the project and would like to congratulate Aker BP and the alliance on the delivered results so far”, says Jan Christian Ellefsen, CEO of Pandion Energy.
Valhall has produced one billion barrels since the field opened in 1982. The ambition is to produce another billion barrels during the next 40 years. Valhall Flank West is an important contribution to ensure this ambition. The Fkank West is estimated to contribute with around 60 million barrels of oil equivalents to Valhall’s production. The West Flank has capacity for another six wells, and the possibility of more wells are currently being looked into to increase value creation from the field.
The license is investing NOK 5.5 billion in Valhall Flank West. The break-even price for the development is USD 28.5 per bbl. Production start is expected in fourth quarter 2019.
For more information: See [press release by Aker BP]