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  • 2022 May 6 15:13

    Transfer of Krafla operatorship from Equinor to Aker BP

    Equinor and Aker BP have signed a memorandum of understanding (MoU) for transfer of the Krafla operatorship from Equinor to Aker BP, making Aker BP the operator of all discoveries in the NOAKA area - Krafla, Fulla and North of Alvheim, according to the company's release.

    Equinor and Aker BP are operators of one field development project each in the area and have agreed that one operator will be the best solution for further development of the area.

    Equinor is presently the operator of Krafla in the north and Aker BP is the operator of NOA Fulla in the south. One operator will have a good basis for efficient project execution and for safe and efficient operation of the fields, creating stronger synergies between the two developments and fewer interfaces.

    Moving forward, Equinor will ensure transfer of expertise and experience relating to the Krafla concept to Aker BP and the collaboration will continue in the development phase.

    The MoU states that the licence owners of the relevant licences will apply to the ministry for change of operator. A transfer of operatorship will be carried out when the investment decision has been approved by the licence and the plan for development and operation (PDO) has been submitted to the authorities.

    Equinor will still be a major licence partner in the area and will retain its existing share of 50 per cent in Krafla and 40 per cent in the Fulla licence. The companies will jointly submit the PDOs for NOA Fulla and Krafla as planned by the end of the year.

    With investments in the order of USD 10 billion the area development is one of the next big NCS developments. A high percentage of the contracts will be awarded to Norwegian suppliers, creating strong ripple effects throughout the country.




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