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Aker BP: Hanz on stream

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Aker BP announces the commencement of production from Hanz in the North Sea, a subsea field development operated by Aker BP with Equinor and Sval Energy as partners.
Aker BP annuncia l'inizio della produzione dal campo di Hanz nel Mare del Nord, uno sviluppo di campo sottomarino gestito da Aker BP con Equinor e Sval Energy come partner.
Aker BP anuncia el inicio de la producción del campo Hanz en el Mar del Norte, un desarrollo de campo submarino operado por Aker BP con Equinor y Sval Energy como socios.
Aker BP는 북해에 위치한 하이즈 해저 유전 개발이 시작됐다고 발표했습니다. 이 프로젝트는 Aker BP가 운영하며 Equinor와 Sval Energy가 파트너로 참여합니다.
Aker BP annonce le début de la production du champ sous-marin de Hanz dans la mer du Nord, un développement géré par Aker BP avec Equinor et Sval Energy comme partenaires.
Aker BP gibt den Beginn der Produktion aus dem Hanz-Feld in der Nordsee bekannt, eine Unterwasser-Feldentwicklung, die von Aker BP mit Equinor und Sval Energy als Partnern betrieben wird.
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STAVANGER, Norway, April 22, 2024 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF) (OTCQX: AKRBY) is pleased to announce that production has started from Hanz in the North Sea. Hanz is operated by Aker BP, with Equinor and Sval Energy as partners. 

Hanz is a subsea field development tied into the Ivar Aasen platform about fifteen kilometres further south. 

Total investments are estimated at close to NOK 5 billion and total reserves are around 20 million barrels of oil equivalent (mmboe).  

"This is yet another great example of what we can achieve working as one team with our suppliers towards a common goal and with shared incentives. In addition, innovative solutions with reuse of infrastructure and use of cross-flow well have contributed to lower costs and lower emissions," says Aker BP CEO, Karl Johnny Hersvik. 

"Development of the Hanz discovery is important for the development of the Ivar Aasen area. Production start from Hanz in 2024 will help us maintain good production from the Ivar Aasen platform," Hersvik adds. 

Unique re-use of infrastructure and use of a cross-flow well

Hanz was discovered in 1997. After the delivery of the Plan for development and operation (PDO) for the Ivar Aasen area, which included the Hanz development, the project matured an optimised development solution by re-using subsea production systems (SPS) from the Jette field. It is the first time that production equipment has been re-used in a new field development on the NCS. 

In addition, the strategy for how the oil and gas is to be recovered was changed to include use of a cross-flow well for water injection. This results in a substantial reduction of power consumption, less use of chemicals and less equipment on the seabed.  

"This development solution will be more cost-efficient and have a smaller environmental footprint than originally planned for. This is in line with Aker BP's continuous search for improvements, where the goal is to produce with low costs and low emissions," says VP Projects Edvard Grieg and Ivar Aasen, Stine Kongshaug McIntosh. 

The change in the development solution for Hanz since the original PDO was submitted led the partnership to send a formal statement regarding the investment decision and the selected concept to the authorities in December 2021. 

Minimised CO2 emissions

The Ivar Aasen field is located on the Utsira High in the northern part of the North Sea, around 175 km west of Karmøy.  

The field was discovered in 2008, and was joined with other discoveries in the area, including Hanz, which was proven in 1997. The first oil from Ivar Aasen was produced on 24 December 2016. 

Ivar Aasen receives power from the Edvard Grieg platform ten kilometres to the southeast. From 2022, the field will receive power from shore via the Johan Sverdrup field, thereby minimising CO2 emissions. 

About Hanz 

  • Lisence 028 B 
  • Partners: Aker BP (35%, operatør), Equinor (50%), Sval Energy (15%)

Contacts:
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/hanz-on-stream,c3964226

The following files are available for download:

https://mb.cision.com/Main/1629/3964226/2747202.pdf

Release

https://news.cision.com/aker-bp-asa/i/hanz-field-illustration,c3290970

Hanz field illustration

Cision View original content:https://www.prnewswire.com/news-releases/aker-bp-hanz-on-stream-302123027.html

SOURCE Aker BP ASA

FAQ

What is the latest development announced by Aker BP regarding its operations in the North Sea?

Aker BP has announced the commencement of production from Hanz, a subsea field development in the North Sea.

Who are the partners of Aker BP in the Hanz project?

Equinor and Sval Energy are partners of Aker BP in the Hanz project.

What platform is the Hanz field development tied into?

The Hanz field development is tied into the Ivar Aasen platform.

What is the ticker symbol for Aker BP on the OTCQX market?

The ticker symbol for Aker BP on the OTCQX market is AKRBF.

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