Profitable growth on the Norwegian shelf - developing our common resources efficiently.
The leading company in the development and operation of smaller fields.
Significant environmental gains, and saving millions
OKEA has found a solution for the Draugen field which removes large quantities of hydrogen sulphide in the production stream. The solution entails a reduction in discharges of chemicals, less cleaning of hydrocyclones, less oil content in the produced water and a reduced need for modifications. This can yield annual savings of between NOK 8 million and 12 million.
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A victory for OKEA and the entire industry
A victory for OKEA and the entire industry
The measures for the oil and gas industry, now approved by the Norwegian Parliament (Stortinget), represents a victory for OKEA, for equal treatment of companies operating on the Norwegian shelf, and for the entire industry. It constitutes an important contribution to increasing activity in the industry which is the objective of the Storting’s temporary changes to the taxation system for oil and gas companies.
Draugen continues to be the driving force
Draugen continues to be the driving force
Draugen is undoubtedly the most important driving force in OKEA. The field produces approximately 20,000 barrels of oil and gas every day. Even in light of low oil prices and the coronavirus crisis, production is going at full speed.
OKEA ASA – first quarter results 2020
OKEA ASA – first quarter results 2020
OKEA delivered yet another quarter with no serious incidents nor leaks for its operated asset, Draugen. Strong operational performance combined with high production regularity resulted in a total net production of 19 099 (19 498) boepd in the quarter.
Our vision
OKEA is a fast-growing oil producer on the Norwegian Continental Shelf. Our vision is to be a leader in safe and cost-effective field development and operation of smaller fields.
Profitable growth
OKEA shall be the most efficient developer and operator on the Norwegian shelf. Our aim is profitable growth. OKEA takes responsibility in accordance with the objectives stipulated by the authorities. We manage and develop resources on behalf of society.
Industry leader on small fields
OKEA’s strategy is to be the leading company in the development and production of smaller fields, and to extend production from mature fields. We will utilize the best available technology to reduce CO2 emissions to the greatest extent possible. Our operations shall have the least possible impact on the environment.
Engaged in the community
OKEA is involved in our community. We supply the world with energy that is still in great demand. Large portions of our profits are returned to society. We make contributions to the local community where we operate, including support to various activities.
Research-based
OKEA bases its operations on facts and research. Being based in Trondheim facilitates close cooperation with NTNU and SINTEF. We put particular emphasis on research aimed at reducing emissions in production.