Offshore staff
SANDNES, Norway — Vår Energi anticipates production growth of more than 50% from its fields across the Norwegian Continental Shelf by year-end 2025.
Ten of the company’s current 12 development projects are progressing in line with estimates and eight are more than 50% completed. The Equinor-operated Breidablikk tieback to Grane in the North Sea should go onstream during Q4, earlier than the planned Q1 2024 start-up.
The Vår Energi-operated Balder X project in the North Sea remains on track to go online next summer. However, the capex estimate has risen by about NOK3.6 billion ($334 million), reflecting a tighter supplier market and the need for measures to mitigate schedule risk and improve construction productivity.
Upgrade work continues on the Jotun FPSO with the re-float and heavy-lift installations completed as planned, and the present focus is on executing the remaining construction work and commissioning.
Drilling and subsea activities are on schedule, and the overall project is more than 80% complete. The company and its partners are looking to extend the Balder area production beyond 2045 using the upgraded Jotun FPSO as a host for new tie-ins such as the King and Prince fields discovered in 2021, and future discoveries/tie-ins.
09.19.2023
