Aker BP has been granted approval for the plan for development and operation (PDO) for the NOK6bn ($700m) Tyrving project in the Alvheim area of the North Sea from the Norwegian Ministry of Petroleum and Energy.

The company alongside its licence partners Petoro and PGNiG Ustream Norway submitted the PDO for Tyrving (formerly Trell & Trine) in August 2022.

The Trell discovery was made in production licence 102F in 2014, while the Trine discovery, which is located in production licence 036E, was made in 1973.

According to the PDO, the two discoveries will be developed as a subsea tieback to the Alvheim floating production, storage, and offloading (FPSO). The vessel has just completed 15 years of oil and gas production from the Alvheim field and others.

Production from the Tyrving project is slated to begin in Q1 2025.

The Tyrving development will use the extended lifetime that has been planned for the Alvheim field. It will also boost production and cut down unit costs as well as CO2 per barrel, said Aker BP.

Norway Minister of Petroleum and Energy Terje Aasland said: “I am very pleased to see utilisation of existing infrastructure to increase production of oil and gas. This extends the lifespan of important fields on the Norwegian continental shelf at a time when Europe needs all the energy we can supply.

“And since we, on this particular day, celebrate the 15th anniversary of Alvheim, it is appropriate for me to announce the approval of the development of Tyrving tie-in project.”

Tyrving’s recoverable resources are estimated to around 25 million barrels of oil equivalent. The project is expected to produce with very less emissions, projected at 0.3kg CO2 per barrel.

Aker BP said that its development will be undertaken in cooperation with its alliance partners. This aligns with the company’s strategy for increased creation of value by leveraging alliances and strategic partnerships, said Aker BP.

Earlier this week, the company was given approval from Norway’s Parliament, Storting, for its PDO of the Yggdrasil area and Fenris and the further development of Valhall on the Norwegian continental shelf.