A new standalone oil and gas development to exploit more than 400 million barrels of oil in the Krafla and North of Alvheim area is beginning to take shape in the Norwegian North Sea.
Operators Aker BP and Statoil, together with their partners, have begun joint work to find an optimal development solution for a series of oil and gas discoveries west of Bergen where proven reserves have already passed the 400 million barrels of oil equivalent mark, and the upside potential is described as significant.
