Offshore staff
SANDNES, Norway — Vår Energi has acquired a 30% ownership in two production licenses north of its Balder X project in the Norwegian North Sea.
Pending government approval, the company will also become operator of the two licenses, PL 820S and PL 820 SB, both north of the Balder Field.
The sellers are Lime Petroleum, Pandion Energy and Lundin Energy Norway (now merged with Aker BP).
Earlier in the year, Vår Energi also acquired operatorship of PL 917 and PL 917B (west of the Balder Field) via an equity swap with Lundin, gaining 20% additional equity in the licenses in exchange for reduced equity in PL 956 and PL 985.
So now the company operates PL 917 and PL 917B with a 40% interest in partnership with Aker BP (40%) and Suncor Energy Norge (20%); the latter is set to be sold to Sval Energi.
Vår Energi vice president of field development and projects, Bjørn Thore Ribesen, said, “The acquired licenses will be worked as part of the further development of the greater Balder area.”
The Balder Field is in PL 001, the first license awarded on the Norwegian Continental Shelf in 1965. Vår Energi is extending the field’s lifetime through the Balder X project, designed to extend production beyond 2045.
08.15.2022
