Offshore staff
STAVANGER, Norway – Eni Norge and Point Resources have completed their merger to form Vår Energi.
It claims to be Norway’s largest independent E&P company with net daily production of more than 170,000 boe in 2018, around 800 personnel, and planned investments in over 10 projects across the Norwegian shelf over the next few years of NOK65 billion ($7.6 billion).
One of the main programs will involve extending the life of the Balder field in the North Sea out to 2045, on what was the first Norwegian license ever awarded (PL 001).
Kristin F. Kragseth has become CEO heading a 13-strong management team, with Philip D. Hemmens chairman of the board of directors.
Aside from Balder, other major producing fields in the portfolio are Ringhorne in the North Sea, Marulk in the Norwegian Sea, and Goliat in the Barents Sea.
In addition, the company has offices in Hammerfest, Oslo, and Stavanger.
In total Vår Energi has interests in 17 producing offshore oil and gas fields in Norway. It aims to raise its net production to 250,000 boe/d in the early 2020s.
Balder X, the re-development of the Balder and Ringhorne fields, will involve prolonging the lifetime of the FPSO to 2045 and the Balder FPSO to 2030; and drilling 15 new production wells in the Balder field area and 11 new production wells in the Ringhorne field area.
It is also considering further development around Goliat through near-field exploration and increased oil recovery. It is also a partner to Equinor in theJohan Castberg project.
Vår has estimated reserves and resources of more than 1,250 MMboe and aims to develop around 500 MMboe.
12/11/2018
