Aker BP: Awarding the Munin jacket

STAVANGER, Norway, May 26, 2023 /PRNewswire/ -- Aker BP (OSE: AKRBP) , (OTCQX: AKRBF) has awarded Heerema Vlissingen a contract for procurement and construction for the Munin jacket in the Yggdrasil area.  

"This is an important contract for the Yggdrasil development. With this award we have placed all major fixed facilities contracts in the Yggdrasil area, and we are in line with our execution plan," states Project Director Peter Kupka for fixed facilities deliveries in Yggdrasil. 

"Heerema Fabrication Group Vlissingen is an experienced international contractor with a solid track record. I am very pleased that they will contribute to Yggdrasil and look forward to starting the execution phase for the Munin jacket," Kupka continues. 

The jacket contract was signed on 23 May.  

Delivery in 2025 

Munin is an unmanned production platform in the northern part of the Yggdrasil area in the North Sea. Aibel is delivering the topsides.  

Aker Solutions will do the detailed engineering of the jacket. The jacket will be fabricated at the Heerema yard in Vlissingen in the Netherlands. Jacket procurement will start in the autumn, and construction is set to start in the beginning of 2024. 

The Munin jacket weighs 5.800 tonnes. The height is 130 meters, and it will be installed in a water depth of 105 metres. Eight piles of 60 metres will be used to secure the jacket to the seabed. Installation is planned in 2025, and Aker BP has secured lifting capacity for all the installations in the Yggdrasil area. 

"We have now secured the execution plan for the Munin jacket from start of engineering to installation. Heerema will also be responsible for the installation of the jacket performed under a separate contract between Aker BP and Heerema Marine Contractors.  Well done to all involved," says Peter Kupka.  

About Yggdrasil 

Yggdrasil consists of the Hugin, Fulla and Munin licence groups, and the area is located between Alvheim and Oseberg in the North Sea. The area contains a total of around 650 million barrels of oil equivalent. Total investments are estimated at NOK 115 billion in real 2022 terms. 

In December 2022, Aker BP and licence partners Equinor and PGNiG Upstream Norway AS (formerly LOTOS ) made a final investment decision to develop the Yggdrasil area. Plans for development and operation (PDOs) were submitted to the Norwegian Ministry of Petroleum and Energy.  

Aker BP has entered agreements amounting to over NOK 50 billion with alliance partners and suppliers. All agreements and contracts are conditional on the Norwegian authorities approving the PDOs. 

CONTACT:

Contacts:

Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

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SOURCE Aker BP ASA