About us
About us History Strategy People Leadership
Our business
Our business License map Production Development and Projects
Development and Projects Balder Future
Exploration Research & development Commercial and business development Contractors
Sustainability
Sustainability Safety Environment
Environment Climate Energy efficiency Biodiversity
Social
Social Local value creation Corporate Social Responsibility People, training, and diversity
Governance
Governance Sustainable supply chain Business integrity Control & improvement Code of ethics & whistleblowing
Investor News & Media
News & Media Media library News archive Press Releases Publications Policies
Careers Contact
Text size change icon

To change text size:

PC: Hold down the Ctrl key and press "+" to increase or "-" to decrease.

Mac: Hold down the Cmd (Command) key and press "+" to increase or "-" to decrease.
NO
Vår Energi / Our business / Development and Projects / Balder Future

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 14 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 and Ringhorne IV project is also referred to as the Balder X project and represents a total investment of NOK 40,7 billion.

Balder Future includes:

Drilling of new wells

  • 14 new production wells and one water injection well on the Balder field.
  • The goal is to extract 143 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.

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.

Jotun Redesign Project

Ane Mo works in the Balder Future project. Early 2021, she got an idea – an idea that soon materialized into a redesign project engaging creative teenagers from Jæren.

Read more
Worker in front of Jotun FPSO at Rosenberg yard. Photo.

More information

Jan Eirik H. Gjerdevik
Communication Advisor
+47 913 25 511
jan.eirik.gjerdevik@varenergi.no