Equinor and Aker BP are entering into a strategic collaboration on tight reservoirs on the Norwegian continental shelf. Through technology development, standardisation and cooperation across multiple projects, the companies aim to enable the profitable development of more discoveries and increase the oil and gas recovery rate.
Large volumes of oil and gas are found in tight reservoirs on the Norwegian continental shelf. These are reservoirs where oil and gas flow very slowly through the rock.
The Norwegian Offshore Directorate has estimated a recovery potential of around 2.8 billion barrels of oil equivalent in mapped tight reservoirs. This is comparable to the expected recoverable resources in the Johan Sverdrup field.
“By viewing our portfolios in context and developing common solutions, we can reduce costs and develop and qualify technology faster. Together, we can make challenging resources profitable. This benefits all partners and society at large,” says Kjetil Hove, Equinor’s executive vice president for Exploration & Production Norway.
Many of the approximately 90 discoveries that have yet to receive development approval are in tight reservoirs. Using conventional methods, only a limited amount of these resources can be recovered, and many discoveries are too costly to develop using today’s solutions.
The Norwegian Offshore Directorate has therefore encouraged the companies to increase collaboration on technology, standardisation and knowledge sharing.
“Scale is key. By considering the opportunities across both portfolios together, we can create basis for activity, faster learning and lower costs. Together, we can develop solutions that can be applied across multiple projects. We are starting the work immediately,” says Karl Johnny Hersvik, chief executive officer of Aker BP.
The collaboration covers prospects, discoveries and projects across the Norwegian continental shelf. The companies will contribute relevant opportunities from their own portfolios and identify where joint technology development, standardisation and knowledge sharing can create the greatest value.
It also includes resource maturation and solutions for well stimulation. The ambition is to create a sufficient and predictable level of activity to build a competitive value chain, with the expertise and supplier capacity needed to develop more discoveries in tight reservoirs.
The collaboration will be organised through a joint governance structure and multidisciplinary working groups with participants from both companies.
Accept cookies
Want the full picture? We’d love to share this content with you, but first you must accept marketing cookies by enabling them in our cookie settings.
