- Contains 4 fields: Ivar Aasen, West Cable, Hanz, Asha
- PDO approved in March 2013
- Development costs relatively high
- Discovery of Asha in December 2012, and inclusion of Asha in development improves economics
- Edvard Greig and Johan Sverdrup could push cost of services market higher
- Ivar Aasen expected to receive transitional terms , whereas other fields will be taxed under new terms
- Ivar Aasen Area contains 3 licences
- Ivar Aasen/West Cable (PL001B)
- Hanz (PL028B)
- Asha (PL457)
- Field unitisation expected mid-2014
- Estimated unitised participations are: Statoil (41.15%), Det Norske (28.8%)*, Bayerngas (12.34%), Wintershall (7.08%), EON (3.54%), Spike (3.54%), Verbundnetz (3.54%)
- Note that on 25 June 2014, Det Norske increased its stake in PL457 (above unitisation does not reflect this)
- EON to receive 15% WI in PL613 (Barents) and 10% WI in licence PL676S (North Sea) + Cash
- Det Norske increases interest in PL457 from 20% to 40% WI
- WM Commercial reserves: 149mmbbl + 181bcf
- Hanz: good reservoir – expect high RF
- West Cable: strong acquisfer support – expect high RF
- Ivar Aasen and Asha reservoir more complex, varying sand quality
- Ivar Aasen, Asha and West Cable production from 2016; Hanz in 2019
- High rates of gas production expected from some wells due to gas cap in Ivar Aasen and Hanz reservoirs
- Wells will be drilled in order that gas production can be shut off to maximize oil recovery
- Asha gas initially reinjected
- Ivar Aasen, Asha, West Cable: developed using fixed platform
- 20 well slots with partial processing facilities
- Production and injection wells will be drilled using jack-up positioned next to platform to 2016/17
- Hanz will be developed using subsea tie back to Ivar Aasen platform
- Exports via Edvard Grieg facilities
