In 2027, Yggdrasil will go into production. Yggdrasil is the name of the area between Alvheim and Oseberg that hosts multiple small to medium size discoveries, totaling more than 700 million barrels of oil equivalents (MMboe).
Operator Aker BP and partners Equinor and PGNiG are actively exploring for additional resources. The new infrastructure will enable quick tie-back and short payback opportunities, i.e. infrastructure-led exploration (ILX). We can thus expect the Yggdrasil total recoverable volumes to grow larger up to and beyond the production start-up.
In May 2023, Aker BP confirmed that their appraisal well, the longest exploration well drilled on the Norwegian continental shelf, had confirmed more oil in Øst Frigg Beta/Epsilon. The updated discovery estimate was quoted at 53 – 90 MMboe, twice the pre-drill estimates, lifting the resources for the entire Yggdrasil area by 10 per cent. The discovery has been nominated for the Exploration Innovation Prize.
Yggdrasil is also the host of the Frøy field. What is curious about this field, is that it already has a production history. Frøy was discovered in 1987 and put into production in 1995. However, after six years of production, it was shut down due to low oil prices and technical problems (scaling). A proposal for re-opening the field was submitted in 2008, but due to the financial crisis, the plan was shelved.
We are pleased to announce that Petter Frantzen, Lead Geologist in Aker BP, will share an exploration update from Yggdrasil at the NCS Exploration – Recent Discoveries conference in Oslo.
The program can be found on the conference website. The place is Oslo (Fornebu), and the dates are May 7. – 8. 2024.