Hanz will be tied into the Ivar Aasen platform. (Photo: Aker BP)

Norwegian authorities have consented to start-up of production on the Hanz accumulation on the Ivar Aasen field in the North Sea.

The development solution involves reusing the subsea installations on the Jette field, which was shut down in 2016.

Hanz was proven in 1997, and is included in the 2013 plan for development and operation (PDO) for the Ivar Aasen field, which is located about 200 kilometres from Stavanger.

Aker BP is the operator of production licence 028 B with a 35-per cent ownership interest, while the other licensees are Equinor (50 per cent) and Sval Energi (15 per cent).

According to the operator, investment costs for developing Hanz are estimated at about NOK 4.2 billion.

The operator's estimate of recoverable resources, mainly oil, is 3.1 million standard cubic metres of oil equivalent (19.65 million bbl o.e).

Aker BP expects to start up during the first quarter of 2024.

"A development of Hanz utilising existing infrastructure and an alternative method for pressure support contributes to good utilisation of resources," says Tomas Mørch, Assistant Director of Licence Management in the Norwegian Offshore Directorate.

KeyFacts Energy: Aker BP Norway country profile