Vår Energi’s net daily production is expected to reach 350,000 barrels of oil equivalent by 2023, after developing more than 500 million barrels of oil equivalent (Mboe) in over ten existing projects in our development portfolio on the Norwegian continental shelf (NCS).
This will require investments of about NOK 65 billion over the next four year period.
The Balder X project
Operated producing fields in the North Sea such as Balder and Ringhorne will undergo major redevelopment the coming years. The Balder field is in production license PL 001 – the very first license on the Norwegian Continental Shelf (NCS).
The Balder X Project includes a revised plan for development and operations for Balder and Ringhorne (Balder Future). The plan is to drill additional production wells and extend production from the area to 2045. The project will give a life span of 80 years for PL 001.
I addition, the Jotun FPSO and the Balder FPSO will go through life extension programs; Balder towards 2030 and Jotun towards 2045. Jotun A FPSO will relocate to an area between the Balder and Ringhorne fields.
Developing the Alke discovery
The planning of a potential development of the Alke discovery in the Barents Sea resumed in May 2017. The company is working to mature a possible gas export concept that has led to an extension of the license.
Several studies are evaluating concept selection, in combination with the Goliat license, as Alke is located southwest of the Goliat field.