OSLO, NORWAY: Operator Aker BP and partner Pandion Energy have reported that oil production has started from Hod B within the southern North Sea. Aker BP and partner Pandion Energy expects Hod to produce forty million barrels of oil equivalent.
The first metal for Hod B was cut in Aker Solutions’ yard in Verdal, the day after the Norwegian Parliament adopted temporary changes within the petroleum tax regime in June 2020.
“Production start-up from Hod B lower than two years after, is nice news! It demonstrates how the temporary tax changes, matured within the spring of 2020 when the industry was paralyzed by a pandemic and a pointy fall in oil prices, has had an actual impact. Aker BP and Pandion Energy responded instantly to the politicians’ expectation of making exercise for the provider industry throughout the country,” says Karl Johnny Hersvik, CEO of Aker BP.
“There are many who can celebrate the beginning of worthwhile manufacturing with almost zero CO2 emissions from the Hod field. Through projects like Hod B, we’re creating worth each for the company, partners, alliance partners, owners and the Norwegian society at large. We are additionally contributing to maintain a world-leading provider industry in Norway. I am particularly proud of the fact that, through the Hod project, Aker BP has contributed to the vocational coaching of fifty apprentices”, Hersvik adds.
In line with the rapid sanctioning of Hod B, the project has been each safely and effectively delivered through a demanding period: 14 months after the primary metal was cut in Verdal, the platform was put in offshore – in accordance with the plan.
Hod B is a usually unmanned wellhead platform, remotely operated from the Valhall field centre. Production from the Hod field will have near zero CO2 emissions thanks to energy from shore.
CEO Jan Christian Ellefsen in Pandion Energy states the following: “This is an important milestone in revitalising the Valhall space and can increase our manufacturing on the NCS further. For Pandion Energy, this additionally marks the worthwhile development of our third PDO, all with a transparent environmental profile being powered from shore with ultra-low CO2 emissions.”
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