Contract call-off award for the Kobra East & Gekko (KEG) subsea project scope
Aker BP announces the award of the subsea scope linked to the Kobra East & Gekko (KEG) development project to the established Subsea alliance between Aker Solutions, Subsea 7 and Aker BP. This is in line with Aker BP's strategy for increased value creation through its alliances and strategic partnerships.
The Alvheim field (PL203), consists of the Kneler, Boa, Kameleon and East Kameleon structures, as well as the Viper-Kobra structures and Gekko discoveries and is also host to other developments in the area. PL203 license owners are Aker BP (operator), ConocoPhillips Scandinavia AS and Lundin Energy Norway AS. The Alvheim field is located in the central North Sea near the UK border.
The Kobra East and Gekko fields will be developed with subsea installations connected to the production vessel on the Alvheim field (Alvheim FPSO). The selected concept has been designed with flexibility for further future subsea tie-back developments.
The work under the call-off awarded comprises engineering, procurement, fabrication and installation of subsea facilities for the KEG project, including pipelines, umbilicals, subsea x-mas trees, structures and subsea control modules.
Total investments linked to these contracts are projected at around NOK 1.7 billion. Installation campaigns are scheduled to start the 2nd quarter of 2022 and to be completed 1st quarter of 2024.
The awarded contracts relate to the Alliance agreement executed by Aker BP, Aker Solutions and Subsea 7 in 2018, and the underlying long term frame agreements for subsea SPS and SURF scope executed by Aker BP and Aker Solutions and by Aker BP and Subsea 7 in 2015.
Project Management and Engineering will commence immediately. The project as a whole is pending approval from authorities of the PDO submitted 30 June 2021.
"The subsea alliance between Aker Solutions, Subsea 7 and Aker BP has demonstrated capability and added value through a series of subsea project deliveries to Alvheim in recent years. Close cooperation between all the parties in the project - company internal, between company and suppliers and between suppliers - is instrumental in making the KEG project a success," says senior vice president (SVP) for Aker BP projects, Knut Sandvik.
Contacts:
Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
About Aker BP:
Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’. More about Aker BP at www.akerbp.com.