OSLO, NORWAY, 17 DECEMBER 2019

Pandion Energy is pleased to announce first oil at Valhall Flank West in the North Sea. Valhall Flank West is a new Normally Unmanned Installation (NUI) which is part of the continued development of the Valhall field. The ambition is to produce another billion barrels in the next 40 years. Pandion Energy holds a 10 percent interest in the Valhall field, where Aker BP is operator.  

The Plan for Development and Operation of Valhall Flank West was submitted in December 2017. First steel was cut at Kvaerner’s yard in Verdal in April 2018. Just over one year later, both the jacket and the topsides were installed on the field with no additional carry-over work.

Valhall Flank West is a well head platform, that will normally be unmanned, tied back to the Valhall field centre for processing and export. The installation receives power from shore via the Valhall field centre, in line with the partnership’s strategy of minimising the environmental footprint.

Recoverable reserves for Valhall Flank West were estimated to be around 60 million barrels of oil equivalent based on the drilling of six production wells. Since then, several additional wells have been sanctioned bringing the recoverable reserves close to 80 million barrels of oil equivalent, with further drilling targets being evaluated.

The partnership has invested NOK 5.5 billion in Valhall Flank West development project, which has an estimated break-even price of USD 28.5 per barrel. Around 1,500 people have been involved in the project.

Jan Christian Ellefsen, CEO of Pandion Energy commented:

“This is truly a day to remember. Valhall Flank West is the first development project we have participated in as a partner on Valhall & Hod. We are very impressed with the execution of the project  and the way the involved parties have worked as one team, delivering one of the safest projects on the NCS, on schedule and within budget.”

For more information: See [press release by Aker BP]