Vår Energi begins tow-out of Jotun FPSO to North Sea Balder field
Vår Energi has initiated tow-out of the Jotun floating production, storage and offloading vessel (FPSO) from the Worley Rosenberg yard in Stavanger, Norway, to Balder field in the North Sea.
The tow out program will be completed in stages. First, the vessel will perform inclination tests quayside before being towed to Åmøyfjorden, near Stavanger, for inshore sea trials and anchor installation work.
Then, the FPSO will be towed to the field for installation, hook-up, and final commissioning. All 14 production wells are completed, and production is expected to begin by the end of second-quarter 2025, with an expected 3-4 months ramp up period to peak production. The advancement comes follwoing a series of project delays.
“Balder X is a key element to this plan and once the Jotun FPSO comes on stream, production from the field will be close to quadrupled, adding around 80,000 boe/d gross at peak,” said Nick Walker, chief executive officer, in a release Mar. 13.
The added production moves the operator closer to the companywide goal to grow production above 400,000 boe/d in this year’s fourth quarter.
'New-era' in North Sea
“Balder X…including the sanctioned Balder Phase V project, marks the start of a new era in the North Sea, extending the lifetime of the first production license PL001 on the Norwegian Continental Shelf to 2045 and beyond,” Walker continued.
With the Jotun FPSO installed as an area host, Vår Energi is taking steps to add new production through infill drilling, exploration, and tie-back developments with short time to market, the company said.
“We have continued to grow our resource base through successful exploration in the area and are stepping up the pace, moving several tie-back projects forward at speed to capitalize on the Jotun FPSO. This will sustain production longer term and includes Balder Phase V, planned to come on stream later this year, and Balder Phase VI expected to be sanctioned in 2025, together adding a further 45-50 MMboe gross,” said Torger Rød, chief operating officer (OGJ Online, Oct. 25, 2024).
Several early phase projects in in the Greater Balder are progressing toward a final investment decision, including Ringhorne North, Balder future phases, and the King discovery, targeting gross contingent resources of more than 70 MMboe, the company said.
Vår Energi is operator (90%) of Balder field. Kistos Energy Norway AS holds the remaining 10%.