Vår Energi and license partner Mime Petroleum has submitted a revised development and Operations plan for the Balder and Ringhorne field to Norwegian Authorities
Balder Future project that is expected to prolong the production lifetime of the Balder and Ringhorne fields’ production lifetime to 2045.
Vår Energi AS and license partner Mime Petroleum AS plan to extend the Balder and Ringhorne production lifetime to 2045.
Company submitted The Balder Future project – revised plan for Development and Operations for Balder and Ringhorne, was submitted to the Norwegian Ministry of Petroleum and Energy.
Revised plan involves drilling 13 new production wells and one new water injection well on the Balder field the North Sea, to recover 136 million barrels of oil equivalent (Mboe).
The project also includes extending the lifetime of the floating production storage and offloading vessel Jotun A FPSO.
The Balder field in license PL 001, with current production estimates, the project will give the license a total lifespan of over 80 years.
Balder Future represents a NOK 19.6 billion (U$ 2.17 billion) investment, is expected to create almost 30 000 man-years of work through the development project and operations to 2045.
As mentioned above, in addition to the new production wells, the project will enable the drilling of extra subsea infill wells, and new wells from the neighboring Ringhorne platform.
Vår Energi and partner Mime Petroleum also has plans to execute further exploration drilling in the area, which if successful will potentially add even more reserves. All these activities will take place while ordinary production continues at the Balder and Ringhorne fields.
Earlier in October, Baker Hughes and Ocean Installer were given the EPCI contract by Vår Energi for Balder X subsea systems.
The Jotun A FPSO will be brought to shore mid 2020 for its upgrade and life extension. During the summer of 2022 the vessel will be reinstalled in the area between the Balder and Ringhorne fields.We reported earlier this month that, Vår Energi Doubled Norwegian Continental Output with ExxonMobil’s Acquisition for U$ 4.5 billion.