Aker BP and the Skarv partners (Equinor, Wintershall Dea and PGNiG) have decided to develop the Grasel discovery. The partners have approved the final investment decision for the Grasel development.

 

The Grasel reservoir, which extends over 7 km and is 2 km wide, is situated above the Skarv reservoir in the Norwegian Sea, some 210 km west of Sandnessjøen. 

 

Grasel holds a total of around 13 million barrels of oil equivalent. The oil and gas production will utilize available capacity on the existing production vessel (FPSO) on the Skarv field. Total investment costs for the Grasel project are around NOK1.2 billion ($140 million). 

 

Based on a development solution with reuse of existing infrastructure, the project has become very profitable. The break-even-price is around $15 per barrel, says Mette Nygard, project manager for Grasel. The tax measures adopted by the Storting in June, which entails faster tax depreciation, has made the project even more robust and accelerated the development.

 

The development consists of a new producer drilled from an existing well slot on the Skarv field, and injection support from a joint injector for Grasel and Tilje. 

 

The successful early-phase work with Grasel will be used as a model for future developments of smaller discoveries, which is one of Aker BP’s prioritized areas. Grasel will also contribute to lifetime extension for the Skarv FPSO. 

 

The first oil from Grasel is planned for the fourth quarter of 2021, in the same period as Ærfugl Phase 2 will come on stream. 

 

This will be the first time Aker BP links two projects to the same field centre in the same year. This will be a milestone for the company. It also showcases how the excellent alliance collaboration with our suppliers contributes to safe and efficient project implementation, says Ine Dolve, SVP Operations and Asset Development at Aker BP. –Tradearabia News Service