NEWS

(WO) —The Storting, Norway’s legislative body, has approved Aker BP’s plans for development and operation of the Yggdrasil area and Fenris, as well as further development of Valhall.

“With this decision, the Storting has said yes to thousands of jobs and great value creation in Norway. I am proud of what we will deliver together with our license partners. Yggdrasil and Valhall PWP-Fenris alone constitute more than NOK 165 billion ($14.92 billion) in investments. We are talking estimated tax revenue of more than NOK 120 billion ($10.85 billion) for our nation,” says CEO Karl Johnny Hersvik for Aker BP.

The Norwegian share of deliveries in Yggdrasil and Valhall PWP-Fenris is about 65%, and the projects will contribute 130,000 full-time equivalents in Norway through the fields’ lifetimes. Approximately half of this is during the development phase.

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