May 7 (UPI) — Working alongside Norwegian major Statoil, a northern North Sea field complex will be the first to produce oil and gas with zero emissions, Aker BP said.
Statoil and Aker BP are driving development at the so-called NOAKA project, which consists of the North of Alvheim area and the Askaja/Krafla area fields. In its quarterly statement, Aker BP said the project is a “field of the future,” with 100 percent of the energy for the complex coming from onshore electricity and offshore wind.
“Aker BP’s ambition is to make NOAKA the first energy-positive field development on the Norwegian continental shelf,” the company’s quarterly presentation read.
A selection of the project design for NOAKA was delayed beyond the first quarter so the partnership could develop what they considered a more ambitious plan, but still potentially in line for this year. The area holds gross resources of more than 500 million barrels of oil equivalent.
The plan follows an emerging trend on the Norwegian shelf. Statoil, which is co-owned by the Norwegian government, has said the winners in the global energy sector will be the companies that embrace both low-carbon and low-cost opportunities.
In its annual sustainability report, Statoil highlighted plans to invest around 25 percent of its research funds in new energy and energy efficiency in the next two years. Taking “oil” out of its name, the company is considering a name change to Equinor.
Aker BP reported first quarter net income of $890 million, up 37 percent from the fourth quarter. Total first quarter production was 158.6 million boe per day, at the higher end of its guidance for the quarter.
Aker BP is part of the consortium developing the Johan Sverdrup field, where production could top out at 660,000 barrels per day by 2022.