Norwegian engineering firm Aker Solutions is looking at about NOK45bn ($4.6bn) in new contracts following Aker BP board’s decision to approve field development projects offshore Norway.
Aker BP said Friday that it had decided to vote for the final approval of the Noaka field development project, the Valhall PWP-Fenris project, the Skarv Satellite project and the Utsira High projects, with the plan for development and operations (PDO) submitted to Norwegian authorities before year-end. The final decision is expected during the first half of December.
Aker Solutions has through the Aker BP alliance models executed front-end engineering and design (FEED) work for these projects over the last year. Subject to the PDO submission the contract awards will be booked in the company’s order intake in December 2022.
Aker BP is the operator of these developments with its net share of the oil and gas resources estimated to be approximately 730m barrels of oil equivalent. The company said it expects to invest about $19bn between 2023 and 2028, with the corresponding average break-even oil price estimated at $35 to $40 a barrel.
