Exceptions May Lead Aker BP in UK – Aker BP – Energy

When the Aker BP oil group, dominated by Kjell Inge Røkke, presented the results of the second quarter, the managing director, Karl Johnny Hersvik, gave a slightly unknown answer:

– If the tank crosses the border, we will examine if the time has come, so I do not exclude it completely.

He was asked if it was appropriate for Aker BP to go on the British set. This question has been asked a number of times at Aker BP, but the answer has remained the same: we are betting on the Norwegian set.

Now, however, the general manager will not rule it out. This is due to the company's discoveries around the Alvheim field in the past, which made it possible to reach the border with the British plateau (see map).

Frog, Frost and Frog discoveries were made in northeastern northeastern Alvheim at the beginning of the year, as well as in the possible discovery at Rumpetroll, a prospect to explore very quickly.

Read more: More and more billions at stake: Aker BP and Equinor negotiate the biggest development since Johan Sverdrup

Can be an exception

Evy Glørstad-Clark, director of exploration at Aker BP, said on Friday that there are possibilities for this geological game in which discoveries are made to extend to the border between Norway and the United Kingdom.

– Evy hinted that there is a larger geological game: solving the issue of injections. Injections on the Norwegian plateau, especially in the Heimdal Formation, are rather complicated. I do not think anyone has succeeded. Therefore, I do not want to completely close the door for this to continue on the British side, says Aker BP's head, Hersvik, and continues:

– Since this is the case, it may be appropriate to do the same. Then we'll see if that's the case or not.

According to Geoforskning, oil is made from injections in certain parts of the Norwegian plateau, especially in the Volund field. It is located right next to the new discoveries of Aker BP. Injections are also called intrusive sand deposits and can be good reservoirs of oil.

"But you only talk about areas on the other side of the border, between Alvheim Field and Frog, and not a general commitment to the British plateau?

– Yes, we do not have a general strategy on the British set. We do not want to, but we have made it clear that our strategy is to generate fundamental value by increasing the number of fields and volumes in production, "said Hersvik:

– So, to go to the British shelves more generally, we have no strategy to do.

PS! If Aker BP still does not want to invest in the UK market, the private equity fund HitecVision, majority shareholder of the oil company Vår Energi, has just done so. This week, it became clear that they were part of an agreement on the acquisition of a number of licenses on the UK Total shelf.