Krafla to be Developed Using Ground-Breaking Concept

Along with Aker BP, Equinor has made an investment decision and will today ssubmit a plan for development and operation for Krafla to the Minister of Petroleum and Energy. Aker BP will be developing Krafla along with the Fulla and North of Alvheim discoveries in the same area.Krafla was proven in 2011 and recoverable resources are estimated at 325 million barrels of oil equivalent. Total investments for Krafla are approx. NOK 46 billion (2022-NOK).Future-oriented solutions have been chosen to facilitate a large extent of data-driven decisions based on continuous monitoring of processes and equipment. For example, maintenance planning will be optimised using digital twins. The plan is to carry out maintenance in annual campaigns.With power from shore, Krafla will be a world leader in low CO2 emissions from production, calculated at 0.4 kg per barrel of oil equivalent.In June, Equinor and Aker BP entered into an agreement to transfer operatorship for the development phase and further operation of Krafla to Aker BP in connection with the PDO submission. At the same time, the partnerships are proposing a name change for NOA and Krafla to Hugin and Munin, respectively, and that the entire NOAKA area be called Yggdrasil.Total investments for NOAKA are calculated at NOK 115 billion (2022-NOK). Overall resource estimate in the area, forming the basis for the investment decision, is 103 million standard cubic metres of oil equivalent, which corresponds to around 650 million barrels of oil equivalent.

Krafla to be Developed Using Ground-Breaking Concept

Related Stories