Oil and gas company Vår Energi has announced that it has achieved a production rate of 400,000 barrels of oil equivalent per day ahead of schedule.
According to the company, the higher-than-expected production level has been made possible by the continued ramp-up of the Jotun FPSO at the Balder field, which is increasing output ahead of plan and is expected to reach peak production in September.
Vår Energi states that it is on track to reach a production rate of approximately 430,000 barrels of oil equivalent per day during the fourth quarter of this year, in line with previous guidance.
For the full year, production is expected to land at the midpoint of the company’s forecast range of 330,000 to 360,000 barrels of oil equivalent per day.