Vår Energi ASA has taken final investment decision (FID) on the Gjøa Subsea Projects in the North Sea.

The company submitted the plan for development and operations (PDO) for the Ofelia and Gjøa Nord developments to the Ministry of Energy with a target to produce more than 400,000 boe/d long-term.

The Gjøa Subsea Projects comprises development of the Ofelia, Gjøa Nord, and Cerisa discoveries as a coordinated subsea development tied back to the Gjøa and Duva infrastructure. The project represents the next phase of developments in the Gjøa area.

First production is expected from Cerisa in third-quarter 2027, followed by start-up from Ofelia and Gjøa Nord in second-half 2028. The project includes development of about 76 MMboe in proved plus probable reserves. Project breakeven is below $35/bbl.

The Gjøa project will extend the economic lifetime of the area from the early 2030s to about 2040 and provides a basis for further tie-back developments and near-field exploration. By increasing throughput for the Gjøa asset, the project is expected to reduce unit production costs, improve the economics of existing fields, and support further resource development in the broader Gjøa area.

The Gjøa Subsea Projects will use a project-factory approach, combining standardized solutions, coordinated execution, and utilization of existing facilities to accelerate developments. The project will be executed through a coordinated drilling and installation campaign, leveraging existing supplier collaborations and partnerships.

Vår Energi is the operator of the Gjøa Subsea Projects (40% in Ofelia, 30% in Gjøa Nord, and 30% in Cerisa).

Partners in Ofelia (PL929) are Pandion Energy AS (20%), Harbour Energy Norge AS (20%), Aker BP ASA (10%), DNO Norge AS (10%).

Partners in Gjøa Nord (PL153) are Petoro AS (30%), Harbour Energy Norge AS (28%), and OKEA ASA (12%).

Partners in Cerisa (PL636) are INPEX Idemitsu Norge AS (30%), Orlen Upstream Norway AS (30%), and DNO Norge AS (10%).