Transfer of Krafla operatorship from Equinor to Aker BP
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Equinor and Aker BP have signed a memorandum of understanding (MoU) for transfer of the Krafla operatorship from Equinor to Aker BP, making Aker BP the operator of all discoveries in the NOAKA area - Krafla, Fulla and North of Alvheim.
Facts about NOAKA
- The NOAKA area is between Oseberg and Alvheim in the North Sea.
- The area consists of the Krafla, Fulla and north of Alvheim discoveries.
- Equinor is the operator of Krafla in the north, Aker BP for NOA Fulla in the south. LOTOS Exploration and Production is also a licence partner in the area.
- The distribution of shares in the area is as follows:
- Krafla: Equinor 50 %, Aker BP 50 %
- Fulla: Aker BP 47,7 %, Equinor 40 %, LOTOS 12,3 %
- NOA: Aker BP 87,7 %, LOTOS 12,3 % - Total recoverable resources in the NOAKA area are estimated at around 600 million barrels of oil equivalent. Preliminary calculation of planned investments is USD 10 billion.
- Aker BP and Equinor have a common ambition of developing the NOAKA area with low emissions and a high degree of digital and future-oriented solutions, both in the project and operations phases.
- The concept covers a production, drilling and living quarter platform on NOA that periodically will have little or no staff. The Frøy field is being redeveloped with a normally unmanned wellhead platform to be tied back to NOA. An unmanned production platform on Krafla will be tied back to NOA for processing of oil and produced water.
- The concept also covers an extensive development on the seabed, including a total of nine subsea templates in the area.
- Plans call for an area development with power supply from shore.
- Production start is scheduled for 2027.