AkerBP has secured consent from the Norwegian Petroleum Directorate (NPD) to commence production from the NOK26.9bn ($3.2bn) Ivar Aasen field in the North Sea in December 2016.
The field comprises three discoveries including Ivar Aasen, West Cable and Hanz. The first two fields are being developed under phase one while the Hanz field is part of the second phase.
AkerBP is the operator of the field with 34.7862% interest. Other partners include Statoil Petroleum with 41.4730% stake, Bayergas Norge 12.3173%, Wintershall Norge 6.4651%, VNG Norge 3.0230%, Lundin Norway 1.3850% and OKEA 0.5540%.
Developed with a production facility on the seabed at a water depth of 110m, Ivar Aasen will produce oil and gas, which will undergo final processing on the Edvard Grieg field.
According to estimates, the Ivar Aasen field is estimated to hold recoverable reserves of 23.3 million standard cubic metres (Sm3) of oil, 4.4 billion Sm3 gas and 0.9 million tons of NGL.
Based on the data from appraisal and development wells drilled upon submission of the Plan for Development and Operation (PDO), the estimates were increased for recoverable volumes and volumes in place.
Det norske was the operator of the development, which includes production licenses 001 B, 242, 338 BS and 457 BS.
However, earlier this year, Det norske merged with BP and formed AkerBP.
Production from the field is estimated reach 23,000boe per day when both the phases are completed.
Image: Illustration of the Ivar Aasen field development in North Sea. Photo: courtesy of AkerBP/ Norwegian Petroleum Directorate.