Offshore staff
SANDNES, Norway — Vår Energi aims to start up its Balder X redevelopment project in the Norwegian North Sea during the fall, the company said in a results statement.
Upgrade work continues on the Jotun FPSO at the Worley Rosenberg yard in Stavanger, with the program past the 90% completion mark. The present focus is on executing remaining construction and commissioning, with the vessel due to depart for its offshore location in August.
Development drilling and subsea facilities activities are progressing on schedule.
Elsewhere in this region, the company is a partner in the Breidablikk project, a subsea tieback to the Grane platform, which started up last October. Eight wells are in service, with drilling of the remaining 14 producers set to begin this spring, leading to more wells coming onstream in the second half of the year.
During fourth-quarter 2023, Vår Energi participated in the Equinor-operated Svalin M Sør exploration pilot well in PL169, which discovered a small oil accumulation. This will be produced through the existing Grane facilities.
The company expects increased exploration activity this year, with planned involvement in 16 wells on the Norwegian shelf targeting more than 150 MMboe of net risked prospective resources and a total net spend of about $300 million.
02.13.2024
