Krafla to be developed using ground-breaking concept
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Along with Aker BP, Equinor has made an investment decision and will today submit a plan for development and operation for Krafla to the Minister of Petroleum and Energy.
Facts about Krafla
- Krafla (exploration well 30/11-8S) was proven in 2011.
- Recoverable resources in Krafla are estimated at a total of 52 million standard cubic metres of oil equivalent, corresponding to a total of 325 million barrels of oil equivalent. This total is distributed between 22.2 billion standard cubic metres of gas (140 million barrels of oil equivalent), 19.5 million standard cubic metres of oil (123 million barrels of oil equivalent) and 10.1 million standard cubic metres of NGL (63 million barrels of oil equivalent).
- The Krafla development concept will utilise an unmanned production platform with five seabed templates tied back to a production, drilling and living quarters platform on NOA to process oil and treat produced water. The installation will be controlled from Aker BP's control room in Stavanger.
- The gas will be transported to Kürstø and further on to the Continent. The oil will be transported to the Sture terminal.
- Planned production start for Krafla is in 2027, after the start of NOA and Fulla.
Facts about NOAKA
- Together, the Krafla, Fulla and North of Alvheim (NOA) discoveries make up the NOAKA area, between Oseberg and Alvheim in the North Sea.
- Ownership interests in the area are as follows:
- Krafla: Equinor 50% (operator), Aker BP 50%
- Fulla: Aker BP 47.7% (operator), Equinor 40%, LOTOS 12.3%
- NOA: Aker BP 87.7% (operator), LOTOS 12.3%
- NOA will have a production, drilling and living quarters platform that will be periodically unmanned or have a low level of manning, while Krafla and Frøy will be tied back to the NOA platform.
- The concept also consists of an extensive subsea development with a total of nine seabed templates in the area.
- Recoverable resources in the NOAKA area are estimated at a total of 103 million standard cubic metres of oil equivalent, corresponding to around 650 million barrels of oil equivalent.
- Total investments for the NOAKA area are calculated at NOK 115 billion (2022-NOK).
- The plan is to develop the area with power from shore (Samnanger). Aker BP is the operator of this joint venture.
- Equinor is the operator of the joint ventures that will build an oil pipeline connected to the Grane pipeline, which runs to the Sture terminal, and a gas pipeline to Statpipe.
- Planned production start will be in 2027.