Aker BP, And Partners To Submit Field Development Plans To Norwegian Ministry

(RTTNews) - Aker BP said the company and its partners are submitting a total of ten plans for development and operation and one plan for installation and operation to the Ministry of Petroleum and Energy in Norway. These development projects are grouped into four main areas: Yggdrasil; Valhall PWP-Fenris; Skarv Satellite Project; and Utsira High.

These Aker BP-operated oil and gas projects have total investments of more than 200 billion Norwegian Kroner in real terms. The company's share of the investments is approximately 70 percent, amounting to approximately $19 billion in nominal terms.

Aker BP noted that these development projects will enable the company's oil and gas production to grow from around 400,000 barrels per day in 2022 to around 525,000 barrels in 2028.