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 break

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