TotalEnergies transferring stakes in three North Sea Ekofisk project fields to Vår Energi, Orlen

Vår Energi has agreed to acquire TotalEnergies’ interest in two of the three fields that form part of the ConocoPhillips-led Ekofisk previously produced fields (PPF) development in the Norwegian North Sea.

The PPF project is in PL018F in the Greater Ekofisk Area. According to Vår Energi, the redevelopment should improve production rates and increase recoverable resources through deployment of new completion and horizontal well technology.

The facilities will comprise four subsea templates and 11 production wells tied back to the Ekofisk Field Center.

Vår Energi will assume TotalEnergies’s 39.89% interest in the West Ekofisk and Albuskjell fields in PL018. TotalEnergies has also agreed to transfer its 20.23% position in the Tommeliten Gamma Field in PL044 to Orlen Upstream Norway.

All three fields ceased production in 1998, according to TotalEnergies.

Subject to FID on the PPF project later in the current quarter, and regulatory approvals, Vår Energi’s share of PL018F will rise from 12.388% to 52.284%. The company expects to net proved plus probable reserves of 38 MMboe, with potential for further growth.

First production from the project should follow at the end of 2028.

“The Ekofisk PPF project is a strategic development that supports our ambitions to maintain a production level of between 350-400,000 boe/d towards 2030 and beyond. The transaction also supports our hub strategy by increasing exposure in an area where we are already present and adds low-cost reserves with significant upside potential.” 

—Nick Walker, CEO, Vår Energi

“We remain fully committed to Norway, where the company holds interests in many licenses, including the producing fields in the Greater Ekofisk Area.”

—Jean-Luc Guiziou, SVP Exploration & Production, TotalEnergies