Oil & Gas
Aker Solutions Bags FEED Contract for Asgard B
The partners in the Asgard licence have decided to invest just under NOK 1.4 billion to further develop the field and implement the Asgard B low-pressure
The partners in the Asgard licence have decided to invest just under NOK 1.4 billion to further develop the field and implement the Asgard B low-pressure project. The Asgard field in the Norwegian Sea started producing in 1999 and the transition to low-pressure production is important to secure improved recovery from the field. The selected concept is a modification of the platform to reduce inlet pressure by replacing the reinjection compressors and rebuilding parts of the processing facility. A FEED contract (front-end engineering and design) was awarded to Aker Solutions in December 2019 for modification work on Asgard B in connection with the low-pressure project. The contract has now been expanded into an EPCI contract (engineering, procurement, construction, and installation).
The EPCI contract is valued at around NOK 800 million and will represent about 415 work-years and distributed over four years for the supplier. Project management and engineering will involve 240 work-years and be carried out at Aker Solutions’ office in Trondheim, while prefabrication will involve 45 work-years and take place at the yard in Egersund. The work will start immediately and is planned to continue through 2024.
More than 20 years have passed since the Asgard B gas processing platform came on stream. Gas from Asgard is piped through Asgard Transport to Karsto, north of Stavanger. Overall, the installations at Asgard have delivered more than 2.8 billion barrels of oil equivalent, with a gross value of more than NOK 1,000 billion.
Planned start-up of low-pressure production is in 2023.
Partners in the Asgard licence: Equinor (operator) 34.57%, Petoro AS 35.69%, Var Energi AS 22.06%, Total E&P Norge AS 7.68%.