Aker BP UK Limited, a subsidiary of Aker BP, has been offered a 50 percent stake in a license area within the UK North Sea sector. The license area is located near the Norwegian border, in close proximity to the Alvheim field operated by Aker BP.

In the 33rd UK Offshore Licensing Round, DNO and Aker BP have each been offered a 50 percent interest in the license consisting of blocks 9/9f, 9/10c, 9/14c and 9/15d. DNO is offered operatorship for the license.

“The petroleum systems and plays in this region extend across the UK-Norway border. Our objective with this license is to explore the resource potential within the greater Alvheim area”, said Olav Blaich, VP Exploration at Aker BP.

The work program commitments for the offered blocks include obtaining 3D seismic data and conducting studies for the area.

Aker BP (operator) and OMV have successfully completed the acquisition of a 3D seismic survey over the Poseidon CCS licence area (licence EXL005) in the Norwegian North Sea, situated approximately 100 km off the Norwegian coast.

The seismic acquisition campaign was carried out by PGS with the vessel Ramform Atlas. Covering more than 500 km², the campaign aimed to generate high-resolution imaging of the CO₂ storage complex and to provide a baseline for monitoring of the storage integrity.

The Poseidon 3D seismic survey was safely executed within schedule and budget.

About Poseidon CCS

In March 2023, Aker BP ASA and OMV (Norge) AS were awarded the Poseidon licence (licence number EXL005) in accordance with the CO₂ Storage Regulations on the Norwegian Continental Shelf. The licence has a work program which includes a 3D seismic acquisition and related studies, followed by a drill-or-drop decision by May 2025 at the latest. Poseidon is a 50/50 partnership, operated by Aker BP.

Annually, the Finance Society Norway awards the Stockman Prize to the listed company in Norway that is best at informing the financial community and shareholders. Aker BP won the award today.

The Stockman Award is the financial market’s award, based on direct input from brokerage houses and Norway’s most prominent investors, which proposes relevant candidates and answers a market survey based on a list of criteria from the Finance Society Norway Stockman committee, which chooses a winner.

– This was both very pleasant and very inspiring. For us in the Investor Relations team, this award is proof that our clients in the capital market appreciate the work we do. Everyone who works with IR knows that this is a team effort. Many people in the company have contributed differently to where we are today, says VP of Investor Relations Kjetil Bakken.

The committee emphasizes several criteria such as accounting, financial presentations and information, and ESG reporting, which counts for 30 percent of the price.

Aker BP’s ESG reporting for last year has already received top marks in pure ESG ratings.

– This is yet another important recognition for the company and our thorough work within ESG over the years. Our ESG goals are an integral and essential part of Aker BP’s corporate strategy and perhaps the most critical reason we score so well in this assessment, says Sustainability Professional Eline Hagen Holsvik, who was responsible for the ESG report.

A wide range of people and functions in Aker BP are involved for the reporting to function optimally.

– Accounting and reporting are real teamwork, and this award is a great encouragement to continue and build the one team culture in Aker BP around our processes. There are quite a few people who work with the end product itself. Still, many more work behind the scenes and contribute to high integrity and trust in our reporting in the external market, says Jon Håkon Østhus, VP Financial Accounting & Integrated Reporting.

To kick-start the Outlook North conference, we will arrange a supplier-seminar together with Equinor on 1st of November from 08.00 to 10.30 at Quality Hotel Harstad.

At the seminar, you can meet Mette H. Otterøy, Director of Procurement at Equinor and Rolf Kristian Stave Nystein, VP Supply Chain Management & Logistics at Aker BP.

The target group for the seminar is everyone who is, or wants to become, suppliers to the oil and energy industry, as well as other interested parties. We organize this because we want to develop the industry and further strengthen cooperation with suppliers in northern Norway.

We hope to come in contact with existing and new suppliers, and we will use the seminar to talk about our upcoming projects and activities that may be relevant to the suppliers. Everyone is welcome to ask questions, and both Equinor and Aker BP are available for talks for those who are interested.

Aker BP has a big project portfolio

In June this year, the Storting approved Aker BP’s plans for development and operation for the Yggdrasil area and Fenris, as well as further development of Valhall. Yggdrasil and Valhall PWP-Fenris alone are making over NOK 165 billion in investments, and around 65% of these investments will come from Norwegian suppliers.

Program

08:00 Coffee and light breakfast is served

08:50 Welcome with Rolf Kristian Stave Nystein, Aker BP and Mette H. Ottøy, Equinor

09:00 Presentation by Equinor

09:30 Presentation by Aker BP

10:00 Questions from the audience

10:30 Wrap up

Press the button below to order a ticket.

Note: If you want to participate in Outlook North, you can «tick» that you want to participate in the supplier seminar as part of the «Conference ticket» order. If you only want to participate in the supplier seminar, you will find a separate ticket type for this.

We look forward to meeting you!

Aker BP was awarded the Exploration Innovation Prize for the development of machine learning models for use in exploration work. The company’s exploration department is already using the solution, often referred to as the ‘Exploration Robot.’

The machine learning models that have been developed can assist geologists and geophysicists in reconstructing missing well logs, making lithology predictions, calculating shale content, and mapping potential undiscovered reservoir areas. The solution can also provide an impartial assessment of log quality.

The prize is presented by Geopublishing and is awarded during the NCS Exploration Conference.

The jury was particularly impressed that the team has succeeded in creating a tool that is actually used and streamlines daily work.

Peder Aursand, Value Stream Manager and data scientist at Aker BP, presented the ‘Exploration Robot’ during the conference. He highlights three factors that have been crucial to their success.

«Firstly, we have focused on making the models work for the exploration team, not the other way around. Secondly, we have included explanations and quantification of inherent uncertainty as standard in the models. And we have made the models available in tools and software that the exploration team is already familiar with and uses daily,» says Aursand.

He received the award along with several representatives from the team that developed the Exploration Robot. In addition to Aursand, the team consists of Tanya Kontsedal, Kjetil Westeng, Yann Van Crombrugge, Christian Lehre, Martine Dyring Hansen, Peyman Rasouli, and Etienne Sylvain Peysson.

Aker BP receives an A+ rating in Position Green’s annual ranking of sustainability reporting among the 100 largest publicly traded companies in Norway. In total, 14 companies receive an A+ grade, which is the highest rating. «This is an important recognition for the company and for the thorough work we have done over the years,» says Øystein Arvesen, VP for Strategy and Sustainability at Aker BP.

The annual ESG100 report (Environmental, Social, and Governance) is prepared by the renowned consulting firm Position Green and assesses the quality of companies’ sustainability reporting. It evaluates compliance with formal legal reporting requirements and the quality of reporting data.

«Perhaps the most important reason why we score so well in this assessment is that our ESG goals are an integrated and crucial part of the company’s strategy. In our strategic priorities, we have goals directly related to sustainability, safety, and social responsibility,» says Øystein Arvesen.

What makes this year’s ESG100 report special is the focus on how well-prepared companies are for the much stricter rules introduced with the implementation of the EU’s Corporate Sustainability Reporting Directive (CSRD) from 2024. The directive requires systematic work in areas such as corruption, human rights, diversity, in addition to climate and sustainability. There will be stricter requirements for third-party verification of reporting data.

«For many years, we have established a systematic approach at Aker BP to document and measure the impact of our work in these areas. This is important not only to ensure that we are actually improving but also to achieve the goals we set for ourselves,» explains Øystein Arvesen. «We have initiated a project to close the gaps and be ready for CSRD reporting for the fiscal year 2024. This recognition from Position Green is a great motivator in this effort and demonstrates that we not only produce good reports but, more importantly, that we are doing excellent sustainability work at Aker BP,» says Øystein Arvesen.

Last week, Microsoft announced the strategic partnership that Aker BP, SLB and Halliburton are part of. This collaboration aims to develop Data Mesh, an innovative solution designed to revolutionize the efficiency and data availability for energy companies.

In today’s practice, field development involves a complex process where data from approximately 150 different applications must be collected manually, often using tools such as PowerPoint and Excel sheets, before decisions can be made at Decision Gates (DG). The time-consuming manual process of moving data between these applications is one of the main reasons why field development takes such a long time.

The purpose of the collaboration between Aker BP, Microsoft, SLB and Halliburton is to solve one of the industry’s biggest challenges. «Data Mesh,» the framework on top of Microsoft Azure Data Manager for Energy, will play a key role in solving this challenge. This framework provides the ability to maintain full visibility into the use of data, including its sources and assumptions, allowing for a more transparent and traceable decision-making process. This will significantly simplify and reduce the complexity and time efficiency associated with implementing changes.

Data Mesh can be described as an overarching layer that effectively connects all the data sets. This allows seamless access to data from various sources, including SLB, Halliburton and the Norwegian Petroleum Directorate, via a single tool. The remarkable adaptability of the tool also enables easy integration of other datasets from future partners. This initiative will help transform the way data is shared and used in the industry, providing a solid foundation for future innovations and partnerships.

An important part of the process to become data-driven

In order to position ourselves as the leading company in exploration and production, it is necessary to continuously improve our operations. This often involves automating manual processes and basing our decisions on thorough analysis of data. Our collaboration related to Data Mesh represents a decisive step towards increased efficiency in the development and planning process for oil and gas fields.

Data Mesh lays the foundation for a more data-driven approach to field development. It frees up valuable resources previously spent on manual tasks and gives us the opportunity to channel those resources towards more critical aspects of the planning process. This initiative helps us to work more intelligently and strategically and gives us the opportunity to focus more on the core aspects that drive our success in field development.

– With Azure Data Manager for Energy and Data Mesh, we have seen efficiency increase across the board. It is a testament to the power of combining traditional industry knowledge with cutting-edge tech, says Paula Doyle, Chief Digital Officer at Aker BP.

Data Mesh also means that you have a continuous and up-to-date overview of where the data set is taken from, and how robust the data is. This helps to make faster decisions and reduce risk.

– When we now get continuously updated insight, and can improve operational efficiency, we will also move away from traditional data handling and consider data as a valuable product in itself. This represents a transition from passive to proactive data management. Data Mesh will take Aker BP a big step towards becoming data-driven, says Arnfinn Grøtte, Domain Manager Digitalisation D&W.

Building a larger data delivery ecosystem

Now that a digital platform is being established that is part of a larger digital ecosystem together with Microsoft, we can look at how we can automate more of the manual work we do today. It is measures like this that enable us at Aker BP to make faster decisions and have better control over risk. This will be incredibly important when we have to deliver the huge portfolio of projects in the coming years.

On behalf of the license holders in production licenses 019 and 065, Aker BP, as the operator, hereby presents a proposal for an Environmental Impact Assessment (EIA) program for the cessation of activities on the Ula and Tambar/Tambar East fields in the North Sea for public hearing.

The Petroleum Act requires the submission of a cessation plan two to five years before the expected cessation of production/operations or the expiration of the production license. The relevant production licenses are set to expire at the end of 2028. Based on the current production forecast and limited potential for new discoveries in the area, there will be no application for an extended license period for further production.

The Environmental Impact Assessment program has been developed in accordance with the latest guidelines for Plan for Development and Operation (PDO) and Plan for Operation and Development (POD) issued by the Ministry of Petroleum and Energy in 2022. In consultation with the Ministry of Petroleum and Energy, the public hearing period has been set to 12 weeks. Any comments or remarks should be sent to Aker BP ASA at regulatory@akerbp.com with a copy to the Ministry of Petroleum and Energy at postmottak@oed.dep.no by November 20, 2023.

In a workshop at Mongstad, three bright yellow valve trees are ready to be shipped and installed on top of the wells on the Hanz field in the North Sea. They all look brand new; however, the massive steel structures have been in use for seven years on the now closed Jette field. This is the first time used production equipment has been moved between producing fields on the Norwegian continental shelf.

It’s not given that valve trees, or Christmas trees as they are usually called, are fit for reuse. The condition must be good enough, their specifications fit into a new field development, and not least the equipment must be available. When the project team considered development solutions for Hanz, they ticked all these boxes.

“The Christmas trees from Jette was available at the time when we considered various business cases for Hanz. They showed that we could save investment costs compared to new build, but just as important was that we could save time”, says Børge Skjevdal, Project Manager for the Hanz development.

“In addition, we achieve a positive environmental effect which is a motivation in itself. Production of steel and other raw materials for new builds entails emissions, and with equipment in this shape it is too bad to use it for nails”, says Skjevdal.

Better than new
Subsea production systems are usually designed to last for several decades. Therefore, the Christmas trees from Jette still had a long lifespan left when they were brought up from the seabed. OneSubsea’s department in Aberdeen has taken the equipment apart down to the smallest component to check that the condition is good. Gaskets and wearing parts have been replaced.

“By doing this we are absolutely sure that the equipment is as good as new, and perhaps even better”, says Børge Skjevdal. “These Christmas trees are already proven to be functional over time”, says Skjevdal.

The Christmas trees have now undergone the final preparation at PSW Technology in Mongstad, and are ready to be shipped to sea.

More reuse in the future
Reuse of equipment is not new to the oil and gas industry, but it’s mainly been done in drilling operations. For example, wellheads, BOPs and risers. This is equipment that is used for a relatively short period before both rig and equipment is moved to the next well. Equipment to be used in production must be installed for several decades. That’s one of the most important reasons for choosing to install new equipment.

Now we see a shift from large standalone developments to smaller marginal tie-ins to existing installations. Combined with an increased focus on cost savings leads to increased interest in reuse.

PSW Technology at Mongstad has actively positioned themselves towards this market, both through maintenance projects like Hanz, but also through speculation, explains Håvard Kallestad, SVP Operations and Business Development.

“We have secured some ‘lottery tickets’ in the recycling market. Simply bought some equipment that we can refurbish and prepare for resale to customers. Some of these purchases have already paid off in the form of sales”, says Kallestad.

“And we foresee more of this in the future, especially for heavier equipment such as Christmas trees, manifolds and well frames”, Håvard Kallestad says.