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Aker BP and Pandion Submit Plan for $600MM Hod Project

Aker BP and Pandion Submit Plan for $600MM Hod Project

 

Aker BP and Pandion Energy have submitted the plan for development and operation (PDO) to Norway’s Ministry of Petroleum and Energy for the Hod field in the Norwegian sector of the North Sea, Aker BP reported Wednesday.

“With projects like Hod, we are creating significant value both for our owners and for the society at large, while we contribute to maintaining the capabilities of Norway’s world-class supply industry,” remarked Aker BP CEO Karl Johnny Hersvik.

Aker BP stated that Hod will be developed with a normally unmanned installation remotely controlled from the Valhall field center. The firm added the facility’s power will originate onshore, resulting in “very low” carbon dioxide emissions. It stated that five wells with sidetracks will be drilled to boost recovery from Hod, which hosted the first unmanned platform on the Norwegian continental shelf when it started production 30 years ago. In addition, the company noted that Hod’s original platform is no longer in service and will be removed after the wells have been permanently plugged.

The new “Hod B” platform is slated to achieve first oil in the first quarter of 2022, stated Aker BP. The operated pointed out that Kvaerner Verdal will construct the steel jacket and topside.

“The concept, the execution model and the organization are copied from the Valhall Flank West development, which started production in December 2019 and set a new standard for delivery of flank developments on the Norwegian continental shelf,” commented Knut Sandvik, Aker BP’s senior vice president for projects. “We see room for further improvements in the Hod project.”

According to Aker BP, the pending Hod development represents an approximately US$600 million investment in collaboration with the company’s alliance partners. Holding a 90-percent ownership interest will be operator Aker BP, with Pandion owning the remainder.

“The gigantic Valhall field has produced more than one billion barrels of oil equivalent since the field was opened in 1982,” concluded Kjetel Digre, Aker BP’s senior vice president for operations and asset development. “The ambition is to produce another billion barrels over the next 40 years. Hod is an important contribution in achieving our ambition for Valhall.”

Source: Rigzone

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Published: 25-06-2020

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