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A new gas field is born: Aasta Hansteen will further grow OMV’s strong Upstream Portfolio

It’s a true technological masterpiece: Aasta Hansteen, the world’s largest SPAR platform, has now gone into operation – another milestone in securing gas supply in Europe.

Aasta Hansteen increases gas supply security in Europe 

A lot of engineering genius went into the construction and installation of this massive platform for the conditions at Aasta Hansteen, in the middle of the Norwegian Sea, are all but easy: The gas field is located 300 km off Norway’s coast and way outside established infrastructures. Water depth is significant and weather conditions in the area can be challenging. Yet, recoverable reserves estimated at 56 billion standard cubic meters (m3) of gas make the field worth all the effort.

“Aasta Hansteen is an excellent addition to our portfolio and of strategic importance for gas supply security in Europe,” explains Knut Mauseth, General Manager of OMV (Norge) AS. “This is why we have been participating in the development and production of this field.” 

Aasta Hansteen is an excellent addition to our portfolio and of strategic importance for gas supply security in Europe. This is why we have been participating in the development and production of this field. 
Knut Mauseth, General Manager OMV (Norge) AS

Natural gas is a perfect partner for renewables

Natural gas has a promising future. Various studies predict that it will become Europe’s most important primary energy source over the next 20 years. Its CO2 emissions are only half of those of coal, making gas the cleanest fossil fuel. And natural gas is a perfect partner for renewables, as it can gap peak demand in times when solar or wind power is down. Furthermore, gas can be a solution for today’s power storage problems: It can easily be stored at attractive economic and technological conditions. 

© OMV AG

“The Norwegian Sea area is strategically very important for us as a company, but also to all of us as gas consumers in Europe. And it will become even more important, as gas demand is growing,” says Knut. “I was there, after the Aasta Hansteen platform was mated in a fjord here in Norway, in January of this year. It is a true engineering marvel! I am very proud that OMV is part of it.”

OMV has actively provided Europe with gas for decades

OMV has been actively involved in providing gas to Europe for over 60 years. In 2017, the company produced approximately 27 million m3 of natural gas per day worldwide. “Now, Aasta Hansteen will make another major contribution to our OMV Upstream portfolio and further strengthen the Norwegian Continental Shelf as one of our core regions,” says Knut.

OMV has been producing oil and gas from large offshore fields in the North Sea since 2013. In 2017, the Gullfaks, Gudrun and Edvard Griegfields contributed approx. 4.7 million m3 per day to OMV’s gas production. In Aasta Hansteen, OMV (Norge) AS holds a share of 15%. By the end of the year, Knut’s team expects to produce 20 kboe/d (3 million m3 per day) from the new field. To put this into perspective, this amount of gas would heat up to 2,000 households for one entire year!

OMV is actively involved across the entire gas value chain

To ensure that gas supply will cover the fluctuating demand in Europe, OMV is not only strong on the production side. The company also has a major stake in gas sales and logistics, hence is active across the entire gas value chain. From well to home, OMV teams provide gas supply reliability and efficiency by working closely across various divisions: OMV production, pipeline and storage logistics, sales, and the major European gas trading hubs. 

“Aasta Hansteen will increase our production in Norway by 20 to 25%. It also puts us into a perfect place for further exploration in the strategically important area. Currently our production mix at OMV (Norge) AS is 50% oil and 50% gas. We see the mix moving towards gas over the next years,” says Knut, further noting, “Aasta Hansteen will be a strong asset for us in meeting that trend”. 

Aasta Hansteen facts & figures

  1. World’s largest SPAR platform: SPAR is a floating platform with a vertical cylindrical hull moored to the seabed. 
  2. Operated by Equinor - Share OMV (Norge) AS: 15 %.
  3. Total length of substructure: 200 meters, diameter: 50 meters, dry weight: 46,000 tons. 
  4. Deepest field development on the Norwegian continental shelf: production at a water depth of 1,270 meters.
  5. Expected OMV net plateau production from the field by end of 2018: 20 kboe/d.
  6. Total estimated recoverable resources: gas: 324 million boe (55.6 billion m3); condensate: 4.1 million boe (0.6 million m3).
  7. Total investment: EUR 3.9 billion; OMV share: EUR 600 million.
  8. OMV (Norge) AS is wholly owned subsidiary of OMV Exploration & Production GmbH, itself a 100% subsidiary of OMV AG. 
  9. Founded in 2006, OMV (Norge) AS is a partner in the Aasta Hansteen (15%), Gullfaks (19%) and Gudrun (24%) fields operated by Equinor, and in the Edvard Grieg (20%) field operated by Lundin.
  10. OMV (Norge) AS is the operator of the Wisting discovery (25%) in the Barents Sea and of the Hades/Iris (30%) discoveries in the Norwegian Sea.
     
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