Vår Energi sells Brage interest

Oct. 9, 2023
Vår Energi signed an agreement with Petrolia NOCO AS for disposal of 12.2575% interest in the Brage Unit in the Central North Sea, 10 km east of Oseberg field in 140 m of water.

Vår Energi signed an agreement with Petrolia NOCO AS for disposal of 12.2575% interest in the Brage Unit in the Central North Sea, 10 km east of Oseberg field in 140 m of water.

Brage produces oil from sandstone of Early Jurassic age in the Statfjord Group, and sandstone of Middle Jurassic age in the Brent Group and the Fensfjord Formation. There is also oil and gas in Upper Jurassic sandstone in the Sognefjord formation. The reservoirs lie at a depth of 2,000-2,300 m. Reservoir quality varies from poor to excellent and remaining reserves are estimated at 2.5 million std cu m oil equivalent. 

The field started production in 1993 and comprises a production, drilling, and quarters platform with oil transportation via the Oseberg Transport System-Sture Terminal and gas offtake through Gassco AS’s Gassled pipeline system on the Norwegian continental shelf. Vår Energi net production from the field was 1,000 boe/d in first-half 2023, with remaining net reserves of 1.9 MMboe at end-2022.

 OKEA ASA is operator at Brage (35.2%). After Vår Energi’s transfer of assets, partners will be Lime Petroleum AS (33.8434%), DNA Norge AS (14.2567%), Petrolia (12.2575%), and M Vest Energy AS (4.4423%).