📋 Tender Overview
Secretary of State Tony C. Tiller today received the development plan for the two discoveries Kobra East and Gekko KEG located in the Alvheim area in the central part of the North Sea. It is fun to follow Aker BPs work with the Alvheim area. The development of Kobra East and Gekko is yet another concrete proof of a long-term area thinking that contributes to utilizing established infrastructure and increasing resource utilization on the shelf says State Secretary Tony C. Tiller.The two discoveries are planned to be developed as a joint seabed development that will be linked to existing infrastructure belonging to the Alvheim field. Processing and export will take place from the production vessel in the field. The development is an important part of the operators strategy with increased oil recovery for the Alvheim area and extended service life for the field center.The KEG project is a good contribution to value creation from the Norwegian continental shelf and leads to increased activity and employment in the supplier industry. It is extra gratifying to have the development plan in the hands of an apprentice who will contribute to value creation from being oil and gas resources also in the decades ahead says Tiller.State Secretary Tony C. Tiller received the development plan from Elena Michelle Erstad Dale who is an apprentice and works at Alvheim FPSO for Aker BP.Important for increased service lifeThe development contributes to the oil production from Alvheim being doubled. The expected recoverable reserves are estimated at about 40 million barrels of oil equivalents and the investments for the project are just under NOK 8 billion.The balance price is calculated by the operator at less than 30 per barrel. Expected start-up is in 2024 with a production horizon of about nine years. The development has the flexibility to be able to develop several other discoveries in the area.The plan for development and operation was submitted by the operator Aker BP on behalf of the licensees ConocoPhillips and Lundin.
