Full steam ahead on Aker BP’s project pipeline
The firm’s extensive portfolio of development opportunities is proceeding apace ahead of Norway’s end-2022 deadline for securing tax breaks
Norwegian producer Aker BP took FID on its Kobra East and Gekko (KEG) project in late June, thus hitting its Q2 target timetable for greenlighting the development. And the rest of the firm’s pipeline of projects aimed at securing tax relief by taking FID by the end of next year is also progressing. The company and its licence partners submitted a plan for development and operation (PDO) for KEG to Norway’s Ministry of Petroleum and Energy on 30 June. Gross investments in the project are estimated at c.$1bn, and production is scheduled to start in the first quarter of 2024. Recoverable reserves at KEG, in which Aker BP holds a 65pc operated stake, are c.40mn bl oe gross. The estimated breakev
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources