Approved development plan for Tyrving
Aker BP (OSE:AKRBP, OTCQX:AKRBF) The Norwegian Ministry of Petroleum and Energy has today approved the Plan for development and operation (PDO) for Tyrving (previously Trell & Trine) in the Alvheim area.
The Operator Aker BP and licence partners Petoro AS and PGNiG Ustream Norway AS submitted the PDO to the Ministry in August last year (Link to the press release).
The Tyrving development will utilise the planned extended lifetime for the Alvheim field, increase production and reduce both unit costs and CO2 per barrel.
Total investments are estimated to approximately NOK 6 billion (about USD 700 million). Production is scheduled to start in the first quarter of 2025.
Recoverable resources in Tyrving are estimated to approximately 25 million barrels of oil equivalent. Tyrving will produce with very low emissions, estimated at 0.3 kg CO2 per barrel.
The development will be carried out in cooperation with Aker BP's alliance partners. This is in line with Aker BP's strategy for increased value creation through alliances and strategic partnerships.