Norway approves development plan to increase production at North Sea oil field
(WO) – The Norwegian Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) for Tyrving (previously Trell & Trine) in the Alvheim area.
Operator Aker BP and license partners Petoro AS and PGNiG Ustream Norway AS submitted the PDO to the Ministry in August last year.
The Tyrving development will utilize the planned extended lifetime for the Alvheim field, increase production and reduce both unit costs and CO2 per bbl.
Total investments are estimated to approximately NOK 6 billion ($700 million). Production is scheduled to start in the first quarter of 2025.
Recoverable resources in Tyrving are estimated to approximately 25MMboe. Tyrving will produce at very low emissions, estimated at 0.3 kg CO2 per bbl.
The development will be carried out in cooperation with Aker BP's alliance partners. This is in line with Aker BP's strategy for increased value creation through alliances and strategic partnerships.