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Aker BP submits development and operation plan for Alvheim field

The Norwegian oil firm estimates the price of expanding and operating the Frosk field in the Alvheim region to be EUR 199m.

Photo: Aker BP

Norwegian oil company Aker BP alongside license partners Vår Energi and Lundin on Monday submit their plans for the Frosk field in the Alvheim region to the Norwegian Ministry of Petroleum and Energy. The plan estimates that expanding and operating the field will cost around NOK 2bn (EUR 198.7m), according to a statement by Aker BP.

"The Frosk development underpins the prolonged Alvheim success story that both we and our partners can be proud of. The Alvheim area is among the most cost-efficient developments on the Norwegian continental shelf, and the resource base has multiplied since start-up. This is the result of targeted exploration and reservoir development, technological innovation and, not least, close collaboration with the joint venture partners and suppliers," says Aker BP Chief Executive Karl Johnny Hersvik.

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