Published December 17, 2018

Aasta Hansteen field in the Norwegian Sea started gas production

OMV News, December 17, 2018 - 9:00 am (CET)

Reliable gas supply to the European market
Plateau production of 20 kboe/d expected, net to OMV

Aasta Hansteen, Norway© Equinor; editorial use free of charge

Production started from the Aasta Hansteen gas field. The deep-water gas development is located in the northern part of the Norwegian Sea, 300 kilometers from the mainland of Norway and in water depths of 1,300 meters.

Equinor is the operator of Aasta Hansteen with a 51% stake and OMV (Norge) AS has a 15% interest in the field. The other partners are Wintershall Norge AS and ConocoPhillips Skandinavia with a 24% and a 10% share, respectively.

Aasta Hansteen production will provide reliable gas supply to the European market. The total gross estimated recoverable reserves, including Snefrid North discovery, which has been included in the development, are approximately 324 million boe (55.6 billion cbm) and 4.1 million boe of condensate (0.6 million cbm). The production will reach a plateau of approximately 20 kboe/d net to OMV. Gas from Aasta Hansteen will be transported via pipeline to Norway and then further exported to the European market. The condensate will be loaded to shuttle tankers and transported to the market.

The total capital investment in the Aasta Hansteen project is approximately EUR 4 bn (EUR 600 mn net to OMV).

Aasta Hansteen has the world’s largest SPAR platform, a floating platform with a vertical cylindrical substructure moored to the seabed. The gas is produced from seven wells in three subsea templates. Subsea tiebacks will increase life of field and they will use Aasta Hansteen’s infrastructure. The Snefrid North discovery will extend the plateau production and has an expected start-up towards the end of 2019.

Background information:

OMV Aktiengesellschaft
OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 20 bn and a workforce of around 20,700 employees in 2017, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tons and more than 2,000 filling stations in ten countries. OMV runs gas storage facilities in Austria and Germany; its subsidiary Gas Connect Austria GmbH operates a gas pipeline network in Austria. In 2017, gas sales volumes amounted to around 113 TWh. Sustainability is an integral part of the corporate strategy. OMV is set to invest EUR 500 mn in innovative energy solutions by 2025.

OMV in Norway
OMV (Norge) AS is a wholly owned subsidiary of OMV Exploration & Production GmbH, which is 100% subsidiary of OMV Aktiengesellschaft. OMV (Norge) AS was established in 2006 and headquartered in Stavanger, Norway. OMV (Norge) AS holds production licenses in the producing fields; Aasta Hansteen, Gullfaks and Gudrun, operated by Equinor - and in Edvard Grieg, operated by Lundin. In addition, OMV (Norge) AS is the operator of the Wisting discovery in the Barents Sea and the Hades/Iris discovery in the Norwegian Sea.