Vår Energi ASA started oil production from Balder Phase V in the Norwegian sector of the central North Sea.
In 2024, Vår Energi took a final investment decision (FID) for the project. The development consisted of six new infill wells through use of spare template slots on subsea infrastructure serving Balder field and the surrounding area.
The company expects the Equinor Energy AS-operated Åsgard Low Pressure Production Phase 3 (LPP3) project, in which it partners, to start-up this month. Its startup would bring completed projects that the company operates or partners in to nine this year.
At peak, the projects are expected to contribute about 180,000 boe/d net production. This year, the company's production has grown to about 430,000 boe/d today from 280,000 boe/d in 2024, with Halten East, Balder, and Johan Castberg projects being the main growth contributors.
Vår Energi is operator at Balder (90%) with partner Kistos Energy (Norway) AS (10%).
Equinor is operator at Åsgard (35.01%) with partners Petoro AS (34.53%), Vår Energi (22.65%), and TotalEnergies EP Norge AS (7.81%).
About the Author
Alex Procyk
Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).