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Åsgard B Low-Pressure Project

Posting Date: 08/Mar/2021

Oil Field Development

Equinor and its partners in the Åsgard field in the Norwegian Sea have agreed to move ahead with the NOK1.4bn ($160m) Åsgard B low-pressure project.

The Norwegian field has been producing since 1999. Equinor said that the Åsgard field’s shift to low-pressure production is significant in securing improved recovery.

The Åsgard B low-pressure project involves modification of the platform to decrease inlet pressure. This is planned to be achieved through the replacement of the reinjection compressors and by reconstructing parts of the processing facility. Equinor expects the low-pressure production from the Åsgard field to begin in 2023. The Norwegian company is the operator of the field with a 34.57% stake. Its partners in the field are Petoro (35.69%), Vår Energi (22.06%), and Total E&P Norge (7.68%). Aker Solutions has been given the contract for modifying the Åsgard B platform to enable the low-pressure production. The engineering, procurement, construction, and installation (EPCI) contract is worth about NOK800m ($93.16m). The company will begin the work immediately and is expected to continue through 2024. Prior to this, Aker Solutions had executed the front-end engineering and design (FEED) for the modification work on the same semisubmersible gas and condensate processing platform

Project Information

Haltenbanken in the Norwegian Sea.

Other Information

Investors: $160m
Investors: Equinor (34.57%), Petoro (35.69%), Vår Energi (22.06%), and Total E&P Norge (7.68%)
Date: Mar/2021 - Dec/2024
Status: Active construction in progress
Operators: Equinor
Operators: Aker Solutions