Aker BP Gets Drilling Permit for Lyderhorn East Offshore Well

October 18, 2021

The Deepsea Stavanger drilling rig. (Photo: Odfjell Drilling)
The Deepsea Stavanger drilling rig. (Photo: Odfjell Drilling)

Norwegian oil firm Aker BP has received a drilling permit for an exploration well to be drilled in the North Sea, offshore Norway.

The well 24/12-7 - known as Lyderhorn East prospect -  is located in the production license 1041. It will be drilled using the Odfjell Drilling's Deepsea Stavanger semi-submersible drilling rig, said the Norwegian Petroleum Directorate, with granted the drilling permit.

Aker BP is the operator with a 55% stake in the offshore block. The other partners are Neptune Energy Norge AS (30%) and Lundin Energy Norway AS (15%).

The well will be drilled about 15 kilometres south of the Bøyla field.

Production licence 1041 was awarded on 14 February 2020 (APA 2019). This is the first exploration well to be drilled in this licence.

Aker BP said last Friday it had produced 210 thousand barrels of oil equivalents per day (mboepd)  in the third quarter. Net volume sold amounted to 224.8 mboepd. For the full year 2021, the company expects average production to end up towards the lower end of the previously communicated guidance range of 210-220  mboepd.

The company said that production costs for the oil and gas sold in the third quarter would be around $210 million. The average production cost per unit produced is estimated to $9 per boe. Exploration expenses for the quarter are expected to be approximately USD 100 million.

The company also expects non-cash impairment charges of around $150  million before tax in the third quarter, driven by revisions of future production and cost profiles for the Ula area, offshore Norway.



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