Valhall wins the Norwegian Offshore Directorate's award for improved recovery
“Congratulations, Team Valhall and Hod – this award is for you!” exclaimed Ole Johan Molvig, Senior Vice President for the Valhall area at Aker BP. On behalf of Aker BP and its partner Pandion, he accepted the Norwegian Offshore Directorate's "Improved Recovery Award" at the ONS conference on Tuesday 27 August.
The IRA Award, previously known as the Improved Oil Recovery (IOR) Award, recognises creativity, patience and a willingness to take risks in adopting methods and technologies that can increase oil and gas recovery beyond what can be expected with existing plans and methods.
The Valhall and Hod fields, located in the southern part of the North Sea, have produced nearly four times more oil and gas than originally estimated in their development plans. The Norwegian Offshore Directorate's justification for the award highlighted that Aker BP's takeover of the operatorship in 2016 marked a change of pace in the further development of these fields. Since becoming a licensee in 2017, Pandion has also played an active role as a partner .
"Aker BP is a forward-looking and ambitious company that aims to maximize value on behalf of us and the society we are part of. Valhall and Hod have a large team where each individual contributes to ensuring the fields continue to deliver, with our plans extending far into the future. I am proud, humbled, and grateful to lead this effort, and I extend a big thank you to everyone," says Molvig.
The Valhall field was discovered in 1975, with production starting in 1982 under Amoco's operatorship. The nearby Hod field started production in 1990. Since then, more than one billion barrels of oil equivalent have been produced from the area. The ambition is to produce an additional one billion barrels over the next 40 years.
In the justification for the award, it is emphasised that "This year's award winner has ambitious plans to implement newly developed technology to increase production from tight reservoir formations. With the PH platform and flanks, power from shore was established in 2013 – significantly reducing emissions."
"When we connect Fenris and PWP, currently under development and scheduled for completion in 2027, we will be well-positioned for continued development and growth, establishing Valhall as a gas hub in the southern North Sea. These projects are also integral to this award," says Molvig.
"The licensees have demonstrated a willingness to take risks and plan for the long term to develop the fields in an energy-efficient manner. This has been achieved through the use of digital technologies and collaboration with technology companies and research institutions," says Torgeir Stordal, Director General of the Norwegian Offshore Directorate.
The award for improved recovery was first presented in 1998 and, since 2012, has been awarded during the ONS conference.
About the award and previous winners:
The Improved Recovery Award - The Norwegian Offshore Directorate (sodir.no)
Read more:
About Aker BP:
Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates the field centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on Oslo Børs under the ticker AKRBP. More about Aker BP at www.akerbp.com/en.
