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NO

Balder Future

Balder Future

Balder Future

Increased recovery from the Balder field

The Balder field is in production license PL 001 – the very first license on the Norwegian Continental Shelf (NCS) – acquired in 1965. Vår Energi is investing heavily in the area, aiming to extend production to 2045. There are four ongoing projects:

  • Balder FPU Life Extension – vessel upgrade
  • Ringhorne III – drilling new wells
  • Balder Future – Jotun FPSO upgrade and drilling 13 new production wells and one water injection well.
  • Ringhorne IV – drilling new wells

Also considering drilling new exploration wells in the area.


The Balder Future project

The Balder Future project is part of Vår Energi’s major investment in extending production from the Balder field. The project represents an investment of NOK 19.6 billion and includes:

Drilling of new wells

  • 13 new production wells and one water injection well on the Balder field.
  • The goal is to extract 136 million barrels of oil equivalent (mboe)
  • Start-up in the summer of 2021

Upgrading of Jotun FPSO

  • Lifetime extension of the production vessel Jotun FPSO (built in the late 90’s – producing since 1999).
  • The ship will be taken ashore June 2020 before being re-installed between the Balder field and the Ringhorne field in the summer of 2022.

The Balder Future project expects to create nearly 30,000 full-time man-years for the project and operating period 2018-45, with a peak of 4,500 in the period 2020-22.

In addition to the planned production wells, the project will enable drilling of several wells and drilling of new wells from the Ringhorne platform.

Vår Energi is also considering drilling new exploration wells in the area.

License owners: Vår Energi AS 90% and Mime Petroleum AS 10%


Contractors

  • The share of Norwegian suppliers is 70%. All major suppliers are based in the Stavanger region.
  • Rosenberg Worley AS in Stavanger has been awarded an EPCI contract (engineering, procurement, construction and installation) for upgrading and modification of Jotun FPSO.
  • Baker Hughes and Ocean Installer will carry out engineering, procurement, construction and installation of new subsea systems (SPS), umbilicals, risers and transport pipes for Jotun FPSO
  • Seadrill Norway Operations AS has been awarded a contract for drilling production wells and water injection wells. Drilling is carried out by West Phoenix.