Vår Energi progressing more than 25 early phase projects offshore Norway
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Vår Energi is progressing more than 25 early phase projects offshore Norway targeting net 2C resources of more than 500 MMboe, the company said in a results update.
It also aims to sanction potentially eight new field development projects this year.
As for exploration, it expects to participate in about 20 wells over the course of the year, with longer-term plans to drill prospective net risked resources of more than 1 Bboe (about half of these over the next four years).
North Sea project updates
At the company’s operated Balder Area in the North Sea, infill drilling at the Ringhorne field resumed late last year with the first new well coming on stream at the end of January, at rates above expectations.
Production from the extensive Balder X redevelopment project should begin by mid-2025. This is designed to sustain production from the Balder area beyond 2045, delivering additional production of about 150 MMboe, and peak rates through the refurbished Jotun FPSO of 80,000 boe/d.
All the development wells have been completed and all subsea production systems installed. The Jotun FPSO, currently undergoing commissioning, should sail to the field next month, weather permitting.
Drilling of the six recently sanctioned Balder Phase V production wells should start in the next few months from a subsea template (a 34-MMboe to 38-MMboe incremental development), with first oil anticipated toward the end of the year.
In addition, there are plans to sanction the Balder Phase VI project later in 2025 targeting 7 MMboe to 16 MMboe recoverable via a single multilateral well subsea tied back to the Jotun FPSO. With further resource upside in the area, more exploration drilling and tieback development phases are under review.
Barents Sea project updates
To the north in the Barents Sea, Vår Energi is a partner in the Equinor-operated Johan Castberg development, which should go onstream in the current quarter. Drilling is progressing as planned, with 14 of the 30 development wells completed; these should be sufficient to attain plateau production of 220,000 boe/d.
Infill drilling and further development phases should follow to extend the plateau, along with a new round of exploration drilling in the area over the next few years.
Following a successful appraisal well last year on the Countach oil discovery, close to the Goliat field in the Barents Sea, Vår Energi plans to follow up with two or three further wells on the Goliat ridge this year, pursuing potential recoverable resources of more than 100 MMboe.
Norwegian Sea project updates
At Halten East in the Norwegian Sea, also operated by Equinor, the subsea tieback project is on track to start up by the end of March, with the first completed wells delivering better than expected results.
Halten East contains about 100 MMboe of confirmed recoverable gas and condensate, which will be exported through the existing Åsgard area infrastructure, with unrisked potential for a further 100 MMboe to 200 MMboe in the area under review for future development.
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About the Author
Jeremy Beckman
Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.