Further development of the Åsgard field

08 Mar 2021

The partners in the Åsgard licence have decided to invest just under NOK1.4bn to further develop the field and implement the Åsgard B low-pressure project.

The Åsgard 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.

A front-end engineering and design (FEED) contract was awarded to Aker Solutions in December 2019 for modification work on Åsgard B in connection with the low-pressure project. The contract has now been expanded into an engineering, procurement, construction, and installation (EPCI) contract.

The EPCI contract is valued at around NOK800m (US$93.5m) 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 to 2024.

Gas from Åsgard is piped through Åsgard Transport to Kårstø, north of Stavanger. Overall, the installations at Åsgard have delivered more than 2.8bn barrels of oil equivalent, with a gross value of more than NOK1,000bn. Planned start-up of low-pressure production is in 2023.

Partners in the Åsgard licence are: Equinor (operator) 34.57%, Petoro AS 35.69%, Vår Energi AS 22.06% and Total E&P Norge AS 7.68%.

For more information please visit EICDataStream.

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