Aker BP reported that the Ivar Aasen field in the North Sea has produced first oil, with the project coming in on time and within budget. Situated 109 miles west of Karmøy, Norway, the field contains an estimated 186 million BOE and, depending on oil prices and development results, could have an economic life of 20 years, the company said. Aker BP was formed in September 2016 by the merger of Det Norske Oljeselskap and BP Norway.
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