Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Aker BP ASA
  6. News
  7. Summary
    AKRBP   NO0010345853

AKER BP ASA

(AKRBP)
  Report
Real-time Quote. Real-time Oslo Bors - 10/22 10:25:51 am
335.2 NOK   -0.83%
10/22AKER CLEAN HYDROGEN : Third-Quarter Results 2021
AQ
10/19HARBOUR ENERGY : Fitch Assigns Harbour's USD500m Notes Final 'BB' Rating
AQ
10/15AKER BP : Third quarter 2021 trading update
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aker BP awards contracts worth NOK 700 million

09/15/2021 | 01:51am EDT

Aker BP has awarded FEED contracts worth nearly NOK 700 million to its alliance partners. The contracts relate to the field development of NOA Fulla in the southern part of the NOAKA area. 

"We've passed an important milestone in the development of NOA Fulla. These are the first major contracts to be awarded in the field development. Now we are getting started on further developing the concept of platforms, production systems and flowlines on the seabed. We are also developing a solution for power from shore that will pave the way for minimal greenhouse gas emissions from operations of the field. This is just the beginning of a field development that will have great significance for activity in the Norwegian supplier industry," says SVP NOAKA Lars Høier in Aker BP.  

The NOAKA area includes NOA, Fulla and Krafla. Aker BP is the operator for NOA Fulla in the south. Equinor is the operator for Krafla to the north.  

The development concept for NOA Fulla consists of a process, drilling and living quarters platform (PdQ) on NOA, a normally unmanned wellhead platform (NUI) on Frøy and three subsea templates for development of Fulla, Langfjellet and Rind. The entire area will receive power from shore, which will minimise greenhouse gas emissions.

An alliance project 

Aker BP and its licence partners Equinor and LOTOS have now made a decision on to further mature the NOA Fulla concept. The field development will be Aker BP's largest project to date. 

"NOA Fulla will be carried out in the alliance model, a model where we work side-by-side with strategic partners with common goals and incentives. We have a strong track record using this model, and we see clear improvements as regards efficiency and quality. Therefore, we believe that this is the key to implementing profitable projects in a demanding market going forward," says Project Director for NOA Fulla, Bård Atle Hovd. 

The largest FEED contract relates to the PdQ platform. The platform will receive and transmit power from shore. It will process the oil from the fields and export it via the Oseberg Transport System (OTS), while the gas will be exported via Statpipe. Oil and produced water from Equinor's northern development will also be processed on the PdQ. 

"The NOA PdQ is the very heart of the NOAKA development, tying the entire area together. Now the Fixed Facilities Alliance between Aker Solutions, Siemens Energy and Aker BP will spend the next year working to create a good design basis. That, along with the other FEED deliveries, forms the basis for the Plan for Development and Operation, which we plan to submit to the Norwegian authorities by the end of 2022," says Hovd. 

These are the FEED contracts 

  • Aker Solutions as part of the "Fixed Facilities Alliance": Topsides and jacket for NOA PdQ and Frøy NUI  

  • Siemens Energy as part of the "Fixed Facilities Alliance": Electrical, instrument, control systems and telecom (EICT) 

  • Aker Solutions as part of the "Subsea Alliance": Seabed production system (SPS) 

  • Subsea 7 as part of the "Subsea Alliance": Umbilicals, risers and flowlines (SURF) 

  • Aker Solutions: Project management of the Power from shore part of the project including sub-contracters for civil and electro 

Additional alliances will be involved in the development of NOA Fulla in a later phase of the field development. 

Contacts:
Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

About Aker BP:
Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker 'AKRBP'. More about Aker BP at www.akerbp.com. 

https://news.cision.com/aker-bp-asa/r/aker-bp-awards-contracts-worth-nok-700-million,c3414154

https://mb.cision.com/Main/1629/3414154/1468385.pdf

https://news.cision.com/aker-bp-asa/i/noa-fulla-1,c2953438

https://news.cision.com/aker-bp-asa/i/noa-fulla-2,c2953439

(c) 2021 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
AKER BP ASA -0.83% 335.2 Real-time Quote.55.04%
AKER SOLUTIONS ASA -3.48% 22.99 Real-time Quote.39.76%
EQUINOR ASA -1.28% 230.7 Real-time Quote.59.16%
All news about AKER BP ASA
10/22AKER CLEAN HYDROGEN : Third-Quarter Results 2021
AQ
10/19HARBOUR ENERGY : Fitch Assigns Harbour's USD500m Notes Final 'BB' Rating
AQ
10/15AKER BP : Third quarter 2021 trading update
AQ
10/15AKER BP : Flags $150 Million Impairment Charge in Q3
MT
10/15PRESS RELEASE : Third quarter 2021 trading update
PU
10/15AKER BP : Third quarter 2021 trading update
AQ
10/15Aker Bp Asa Reports Operating Results for the Third Quarter and Nine Months of 2021
CI
10/15Aker BP ASA Reports Sales Results for the Third Quarter and Nine Months of 2021
CI
10/15Aker BP ASA Provides Impairment Guidance for the Third Quarter of 2021
CI
10/15Aker BP ASA Provides Production Guidance for the Full Year 2021
CI
More news
Analyst Recommendations on AKER BP ASA
More recommendations
Financials
Sales 2021 43 503 M 5 207 M 5 207 M
Net income 2021 6 336 M 758 M 758 M
Net Debt 2021 18 256 M 2 185 M 2 185 M
P/E ratio 2021 19,1x
Yield 2021 3,19%
Capitalization 121 B 14 412 M 14 436 M
EV / Sales 2021 3,19x
EV / Sales 2022 2,95x
Nbr of Employees 1 745
Free-Float 30,0%
Chart AKER BP ASA
Duration : Period :
Aker BP ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AKER BP ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 335,20 NOK
Average target price 303,70 NOK
Spread / Average Target -9,40%
EPS Revisions
Managers and Directors
Karl Johnny Hersvik Chief Executive Officer
David Torvik Tønne Chief Financial Officer
Øyvind Eriksen Chairman
Ine Dolve SVP-Operations & Asset Development
Trond Brandsrud Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AKER BP ASA55.04%14 412
CONOCOPHILLIPS86.52%99 882
EOG RESOURCES, INC.82.27%53 073
CANADIAN NATURAL RESOURCES LIMITED71.27%49 995
CNOOC LIMITED19.08%49 906
PIONEER NATURAL RESOURCES COMPANY68.63%46 030