Norwegian independent Det norske is gearing up for imminent offshore module installation works on its Ivar Aasen development offshore Norway this month.
The firm, which is due to become part of new firm Aker BP, says the the project is on time and budget with planned start-up in Q4.
Five oil producers and three water injection wells have been completed, using the Maersk Interceptor, and the topside was completed at SMOE in Singapore in June and the modules have been transported to Norway for offshore installation, planned in July.
Det norske says the construction of the living quarters at Stord in Norway is completed and the module is also ready for transportation and installation on the field during July.
A transport vessel, Cosco's Xiang Rui Kou, with the Ivar Aasen platform deck, is currently at the field location, with the Saipem 7000 heavy lift vessel.
The Ivar Aasen field is west of the Johan Sverdrup field in the North Sea and contains approximately 204 MMboe, in five blocks: PL 001B, 028B, 242, 338 and 547; and three deposits: Ivar Aasen, West Cable and Hanz. The economic life of the Ivar Aasen field could be 20 years, depending on oil prices and production trends. The operator is Det norske, holding a 34.8% ownership interest.
In June, Det norske announced an agreement with BP to merge with BP Norge through a share purchase transaction. The combined company will be named Aker BP and will be headquartered at Fornebuporten, Norway.
Øyvind Eriksen will remain chairman of the board and Karl Johnny Hersvik CEO of the combined company. Aker BP will hold a portfolio of 97 licenses on the Norwegian Continental Shelf, of which 46 are operated.
Closing of the transaction is expected late in the third quarter. The merger is conditional upon regulatory and extraordinary general meeting approval.