Aker BP gets board approval for $19bn investment

Fossil Energy – NOAKA

Aker BP announced that its board has approved the decision to submit plans for development and operation (PDO) for the NOAKA field development project, the Skarv satellite project, the Valhall PWP-Fenris project, and the Utsira High projects, offshore Norway.

The Norwegian oil company’s share of investments in the upstream projects is expected to be about $19bn between 2023 and 2028.

Aker BP is the operator of the field development projects, which are mainly planned to be executed alongside its alliance partners.

Aker BP estimates that the net oil and gas resources in the projects to the company are nearly 730 million barrels of oil equivalent (boe).

Original Source: https://ocean-energyresources.com/2022/12/05/aker-bp-gets-board-approval-for-19bn-investment/