Equinor and its partners in the Åsgard field in the Norwegian Sea have agreed to move ahead with the NOK1.4bn ($160m) Åsgard B low-pressure project.
According to Equinor projects senior vice president Geir Tungesvik, the Åsgard B low-pressure project will boost production from the existing wells in the Smørbukk deposit.
Besides, the low-pressure project will help in achieving the planned production from the Åsgard field, said Tungesvik.
The Norwegian field has been producing since 1999. Equinor said that the Åsgard field’s shift to low-pressure production is significant in securing improved recovery.
Equinor Åsgard operations vice president Randi Hugdahl said: “We can still produce 400-500 million barrels of oil equivalent from the field. This means value creation in the order of NOK 150 – 200 billion.
“The current recovery rate for the field is almost 50 percent, but our ambition is to extract 60 percent of the hydrocarbons in the reservoirs before the field will have to be shut down.”
The Åsgard B low-pressure project involves modification of the platform to decrease inlet pressure. This is planned to be achieved through the replacement of the reinjection compressors and by reconstructing parts of the processing facility.
Equinor expects the low-pressure production from the Åsgard field to begin in 2023.
The Norwegian company is the operator of the field with a 34.57% stake. Its partners in the field are Petoro (35.69%), Vår Energi (22.06%), and Total E&P Norge (7.68%).
Aker Solutions has been given the contract for modifying the Åsgard B platform to enable the low-pressure production. The engineering, procurement, construction, and installation (EPCI) contract is worth about NOK800m ($93.16m).
The company will begin the work immediately and is expected to continue through 2024.
Prior to this, Aker Solutions had executed the front-end engineering and design (FEED) for the modification work on the same semisubmersible gas and condensate processing platform.
Aker Solutions electrification, maintenance, and modifications executive vice president Linda Litlekalsøy Aase said: “In projects like this, it is important to perform the offshore installation work safely and with a minimum of interruption of the ongoing production on other parts of the platform. Hence, we have developed special expertise and models to execute such contracts.”
