The Jotun floating manufacturing, storage and offloading platform (FPSO) of the Balder area on Norway’s aspect of the North Sea reached peak manufacturing of over 80,000 barrels of oil equal a day (boed) gross, operator Var Energi ASA mentioned.
Jotun ramped as much as capability sooner than anticipated, after beginning manufacturing June, the Stavanger-headquartered Norwegian continental shelf (NCS) producer mentioned in an announcement on its web site.
“All 14 subsea manufacturing wells at the moment are on-line and are on common producing consistent with expectations, and work is ongoing to additional optimize the manufacturing from Jotun FSPO”, Var Energi mentioned.
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“The Balder Section V and VI tasks are underway and can add further capability, sustaining excessive manufacturing from the Balder space going ahead”.
The brand new capability provides to “present manufacturing of round 30,000 boed gross mixed from the Balder floating manufacturing unit and Ringhorne services”, the assertion mentioned.
The broader Balder hub, which incorporates the Breidablikk and Grane fields, accounted for 20 p.c of Var Energi’s 2024 output and 276 million boe of confirmed and possible reserves on the finish of the yr, the corporate says on its web site.
“The speedy ramp-up to peak manufacturing on the Jotun FPSO, alongside robust efficiency throughout our portfolio, places us on observe to satisfy our manufacturing goal of round 430,000 boed within the fourth quarter of this yr”, chief government Nick Walker mentioned within the assertion.
“With the brand new services within the Balder space designed to increase manufacturing past 2045 we’re on observe to create extra worth from the world”.
Var Energi, 63.04 percent-owned by Italy’s state-controlled Eni SpA, has a 90 p.c stake within the Balder area. Kistos Vitality Norway AS owns 10 p.c.
Final month Var Energi mentioned it had authorised 4 of greater than 10 tasks for which it expects to make a FID (closing funding resolution) this yr.
“The corporate goals to take care of manufacturing within the vary of 350,000 to 400,000 boed over time, supported by a strong portfolio of round 30 early-phase tasks”, Var Energi mentioned in a press launch August 26.
“As well as, Var Energi continues to be one of the energetic explorers on the NCS with three industrial discoveries yr thus far”, the corporate added.
New Discoveries
In July Var Energi introduced a pure fuel and condensate discovery within the already producing Fenja area within the Norwegian Sea.
“The invention was made on the Vidsyn ridge, which has the potential to carry as much as 100 million boe (MMboe) gross”, Var Energi mentioned July 21. “The Vidsyn nicely confirms found recoverable sources within the vary of 25-40 MMboe gross, that are thought-about industrial. The remaining potential of the ridge might be assessed by means of an appraisal program, to facilitate for a fast-track improvement”.
It mentioned it might examine a possible tie-in to Fenja, which went on-line April 2023. Var Energi operates Fenja with a 75 p.c curiosity.
In June the Johan Castberg co-venturers introduced the Drivis Tubaen discovery. Operator Equinor ASA, majority-owned by Norway, put preliminary estimates at 9-15 million barrels of oil.
“The Johan Castberg quantity base initially estimated at 450-650 million barrels; our clear ambition is to extend the reserves by one other 250-550 million barrels”, Grete Birgitte Haaland, Equinor senior vice chairman for exploration and manufacturing in Northern Norway, mentioned in an organization assertion June 30. “To understand this, we’re planning six new exploration wells and steady exploration exercise”.
Earlier in June Equinor mentioned the Johan Castberg area, on Norway’s aspect of the Barents Sea, had reached capability of 220,000 barrels of oil per day, after beginning up late March.
Var Energi holds a 30 p.c curiosity in Johan Castberg.
In February Var Energi introduced the Zagato oil discovery within the Goliat area within the Barents Sea. It put preliminary estimates at 15-43 MMboe.
“This comes along with the Countach discoveries introduced final yr, and brings the whole gross estimated recoverable sources as much as a excessive case reaching round 100 MMboe”, Var Energi mentioned February 27. “The discoveries proceed to exhibit the potential of the Goliat ridge, with estimated gross found and potential recoverable sources elevated to above 200 MMboe”.
Var Energi operates Goliat with a 65 p.c stake.
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