Norwegian continental shelf producer Vår Energi ASA has narrowed its output forecast for 2025 because of “operational challenges” on the Balder subject within the North Sea and the Johan Castberg subject within the Barents Sea.
“At Johan Castberg, some points with the offloading hose have led to intervals of lowered manufacturing in November and once more now in December”, Vår Energi, majority-owned by Italy’s state-controlled Eni SpA, mentioned in an announcement on its web site.
“Within the Balder space, there’s lately skilled lowered manufacturing on the Jotun FPSO [floating production, storage and offloading vessel] brought on by operational interruptions following the simply began up Balder Part V mission tied-in to the FPSO.
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“Each the Johan Castberg and Balder fields are anticipated again at plateau manufacturing by the top of December”.
The Jotun FPSO, which began manufacturing June, has a declared gross capability of over 80,000 boed. Vår Energi is operator with a 90 % stake.
Johan Castberg, put onstream March, has a gross peak manufacturing of 220,000 barrels of oil per day, in line with the homeowners. Vår Energi owns 30 % of the Equinor ASA-operated Johan Castberg.
Vår Energi now expects to common 330,000-335,000 barrels of oil equal a day (boed) this 12 months. Its earlier steering was 330,000-360,000 boed.
Nevertheless, it mentioned it was sustaining its 2026 projection of 400,000 boed.
“Vår Energi has began up 9 progress initiatives throughout 2025, delivering transformational manufacturing progress”, the assertion mentioned. “The corporate’s manufacturing potential when all belongings are producing is within the vary of 440 to 460,000 boed”. For 2024 Var Energi had reported a manufacturing of 280,000 boed.
The 9 initiatives it put on-line in 2025 are Halten East, Johan Castberg, Balder’s Jotun FPSO, Ormen Lange Part 3, Snøhvit Askeladd Vest, the Gjøa Low Strain Venture, Åsgard Subsea Compression Part 2, Balder Part V and Åsgard LPP3. The Halten East, Balder and Johan Castberg initiatives have had the largest contributions up to now, in line with an announcement by the corporate December 17.
“At peak, the 9 initiatives will contribute with round 180,000 boed web manufacturing and have developed 390 million barrels of oil equal of web proved plus possible reserves, reinforcing Vår Energi’s place as a number one producer on the Norwegian continental shelf”, Vår Energi mentioned within the earlier assertion.
Along with the start-ups, Var Energi has sanctioned 10 initiatives this 12 months: the Beforehand Produced Fields within the Better Ekofisk Space, the Eldfisk North Extension, the Mikkel Move Conditioning Unit, Johan Castberg Isflak and Elevated Oil Restoration initiatives, the primary section of Balder Subsequent, Balder Part VI, Fram Sør, the Gudrun Low Strain Venture and Snorre Fuel Export.
“These developments kind a part of the firm’s early-phase portfolio of round 30 high-quality initiatives”, Vår Energi mentioned in an announcement December 18.
“The initiatives are including high-value barrels to maintain manufacturing of between 350,000 and 400,000 barrels of oil equal per day in the direction of 2030 and past”.
“In whole, the ten sanctioned initiatives add important proved plus possible reserves of round 160 million barrels of oil equal web to Vår Energi”, the corporate mentioned.
“The initiatives exhibit robust economics, with an common portfolio fee of return of above 30 % and breakeven worth of round $30 per barrel”.
To contact the writer, e-mail jov.onsat@rigzone.com
