Alvheim Area

The greater Alvheim area is located in the central part of the North Sea, close to the UK sector. It consist of the main field Alvheim, and the satellite fields Bøyla, Vilje and Volund. The volumes are being produced via the Alvheim FPSO.

The main field Alvheim (PL 088BS, Pl 203, PL 036C) consists of the Kneler, Boa, Kamelon, East Kamelon structures, and the Viper-Kobra and Gekko discoveries. Viper- Kobra came on stream during Q4, 2016. Bøyla (PL 340), Vilje (PL 036C) and Volund (PL 150) are satellites which are smaller discoveries and tied into the Alvheim FPSO. The Alvheim FPSO has experienced high activity with an operational efficiency of 93.5 percent in 2016. The Alvheim FPSO has operated safely and delivered net production for Aker BP of 62.3 mboepd.

An extensive improvement project during 2016 resulted in an operating cost reduction of 13.5%, compared to the budget for 2016. Several improvement initiatives were established and will be followed up in 2017.

Drilling of the tri-lateral Boa Kam North well was completed in January 2016 with excellent drilling results. The well commenced production in May 2016. The Viper-Kobra wells came on stream in November 2016. Viper-Kobra consists of two separate discoveries, were Kobra was discovered in 1997, and Viper in 2009. The total gross recoverable reserves are estimated at 9.6 million barrels of oil equivalents (6.2 mmboe net). The development comprises of a new subsea installation with a pipeline tied into the Volund manifold.

Future outlook

During 2016, the drilling of Volund infill West & South commenced, planning for first oil in Q2, 2017. In addition, BOA infill West & South were sanctioned by the license with first oil planned in Q4, 2017. The drilling campaign with Transocean Arctic commenced in December 2016, and is progressing according to plan. More infill wells are being matured to arrest the production decline on the Alvheim FPSO. The development of the Storklakken prospect as a tie-back to Alvheim FPSO, with a PDO planned towards the end of 2017.

Key Facts Greater Alvheim Area

    • License: PL203, PL088BS, PL036C, PL036D, PL150, PL340
    • Aker BP working interests:
      • Alvheim: 65%
      • Bøyla: 65%
      • Vilje: 46,9%
      • Volund: 65%
    • Partners: ConocoPhillips, Lundin, Point (PL340), Statoil, (PL036D), PGNiG (PL036D)
    • Discovered: 1998
    • Production start: 2008
    • License period: 2032
    • Production 2016 (net): 62,327 boepd
    • End 2016 2P reserves (net): 120 mmboe

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