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Optime Subsea's second-generation ROCS has gradually become the new industry standard for well completion operations. Because it has eliminated the need for the umbilical, which traditionally connects the surface to the seabed for controlling the tubing hanger in subsea well completions, and the associated topside hydraulic control unit.
Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.
Hanz was discovered in 1997. After the delivery of the Plan for Development and Operation (PDO) for the Ivar Aasen area, which included the Hanz development, the project matured an optimized development solution by re-using subsea production systems (SPS) from the Jette field. It is the first time that production equipment has been re-used in a new field development on the NCS.
Authorities have consented to the 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.
Whoever is in power after the next election, policy uncertainty is a long-term problem for the UK North Sea oil and gas industry.