Aker BP reported a series of project milestones in its second-quarter results, including completion of key power infrastructure for the Yggdrasil development and progress on future production growth projects across the Norwegian Continental Shelf.

Yggdrasil project reaches power-from-shore milestone

The multi-field Yggdrasil development in the North Sea has been connected to the Norwegian power grid, operator Aker BP said in a results update.

Its power-from-shore project energized the onshore high-voltage system last month, with installation of the subsea power cable now completed.

Aker BP also revealed it had upsized its pre-tax costs for the overall development from $12.1 billion to $12.5 to $13 billion, mainly due to updated price estimates for topsides construction and commissioning work during the final execution phase.

The program remains on track for start-up in 2027.

Southern North Sea activity continues

In the southern North Sea, production from the Ula area is set to cease by the end of 2028. The company submitted its cessation plan was to the Norwegian authorities earlier this year.

At the nearby Valhall Flank West, a rig is due to arrive for an improved oil recovery campaign. Aker BP is maturing various infill opportunities to final investment decisions in late 2026 and early 2027.

Johan Sverdrup Phase 3 advances

In the Utsira High region of the North Sea, the Equinor-led Johan Sverdrup Phase 3 development, sanctioned in 2025, is making progress. The two six-slot subsea templates were recently installed on the seabed locations along with associated flowlines and umbilicals.

Drilling of the eight Phase 3 wells should get under way during Q4, followed by a production start in late 2027.

Skarv growth projects near startup

In the Norwegian Sea, Aker BP and its partners are working up several near-field development opportunities that could help sustain production through the Skarv hub. They include the Skarv E discovery and additional tie-in/infill prospects.

Key decisions should follow in late 2026 and early 2027.

The current Skarv Satellites Project, due to start up next month, is tying back the Alve Nord, Idun Nord and Ørn discoveries to the Skarv FPSO. Drilling and completion activities have finished for the remaining production wells, and all remaining subsea installation and tie-in activities have also concluded.

Topside modification, commissioning and operational readiness work continues on the Skarv FPSO. Activities included upgrades to the test separator system, and preparation of systems and operating procedures.