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Aker BP discovers oil in the Noaka area

Aker BP Deep SeaStavanger NoakaThe explaration rig Deep Sea Stavanger at "home". Photo: AkerBP

Aker BP discovers oil in the Noaka area of the North Sea

Aker BP has discovered between 82 and 208 million barrels of oil equivialents in the Noaka area northeast of Alvheim in the North Sea.

Aker BP has uncovered between 82 and 208 million barrels of oil northeast of Alvheim in the North Sea. The actual exploration well has been completed.

Aker BP notified about the discovery in the exploration well at Liatårnet two weeks ago, writes the online newspaper E24.

The Norwegian Petroleum Directorate states that the discovery is calculated to between 13 and 32 million standard cubic metres of recoverable oil, In connection with the completion of the well. This corresponds to between 82 and 208 million barrels of oil equivalents.

Noaka area

“The exploration success at Liatårnet is a joyful result of a long-term strategy to uncover the potential in the Noaka area. It will establish a basis for comprehensive area development. This discovery represents a significant increase in the resource base for the area,” Director for Exploration of AkerBP, Evy Glørstad-Clark explains.

Aker BP and Equinor are both central players in the Noaka area. There is nevertheless much discord between the companies. They, simply put, do not agree at all on how Noaka ought to be developed, according to E24.

Noaka is an abbrevion of Alvheim Nord, where Aker BP is dominant, and Krafla/Askja, where Equinor and Aker BP own half each.

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2nd Quarter Result for Aker BP

The oil company Aker BP achieved a pre-tax profit of USD 268 million in the second quarter of 2019. The result is weaker than in the same quarter last year but better than expected.

The company, which is dominated by Kjell Inge Røkke, had total operating revenues of USD 785 million in the second quarter. The corresponding figure for last year was USD 925 million. Profit, before tax, decreased from USD 494 million.

“Framdriften for selskapets feltutbygginger går som planlagt, og leteprogrammet har så langt i år vært svært vellykket,” a comment states.

Analysts TDN Finans has obtained estimates from, announced a pre-tax profit of NOK 250 million (USD 30 million), writes Dagens Næringsliv. It was thus better than expected beforehand.

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