September 01, 2022

Following the merger with Lundin Energy, Aker BP is working on a total of 15 development projects on the Norwegian continental shelf, where the Plan for Development and Operation (PDO) will be submitted to the Ministry of Petroleum and Energy during the year.
The largest development project is in the NOAKA area in the North Sea, a coordinated development of several fields where total investments are estimated at about NOK 80 billion (USD 10 billion). This project alone will create around 50,000 Norwegian man-years in the development and operation phase.
Construction of a new platform on the Valhall field in the southernmost part of the Norwegian North Sea, and hook-up of the Fenris field (formerly King Lear) to the new platform, has estimated investments of NOK 40-50 billion, which will result in 65,000 Norwegian man-years in total employment.
The development of several satellite fields in the vicinity of the Skarv FPSO in the Norwegian Sea is the third largest development project operated by Aker BP. Investments are estimated at NOK 16-20 billion, total employment 8,500 full-time equivalents. Aker BP also has several subsea developments which will be tied back to the Alvheim, Edvard Grieg and Ivar Aasen fields, all in the North Sea.
The estimates are presented in the Impact assessments for the respective projects. The employment effect of all projects operated by Aker BP is estimated at 145,000 man-years in Norway. In addition, there are ripple effects of Aker BP’s share in the Wisting development, where Equinor is the operator.
(Source and image: Aker BP – Aker BP workers on Valhall facility)