Vår Energi, a Norwegian oil and gas player, has secured the go-ahead for drilling activities in the North Sea, off the coast of Norway.
FPSO Jotun; Source: Vår Energi
The Norwegian Offshore Directorate has granted Vår Energi a drilling permit for the wellbore 25/8-C-23 D in production license 027, which is valid from May 23, 1969, up to March 1, 2030.
Vår Energi has a 90% interest in this North Sea license, while Kistos Energy, as the firm’s partner, holds the remaining 10% stake. The drilling activities will be carried out from the Ringhorne field.
The permit follows the one obtained by the Norwegian player from the Norwegian Ocean Industry Authority (Havtil) for the same well. This prospect, known as Prince Updip, will explore the Ringhorne deposit.
Located nine kilometers north of the FPSO Balder, the field, which is included in the Balder complex, has been developed with a combined accommodation, drilling, and wellhead facility and tied back to the FPSOs Balder and Jotun for processing, crude oil storage, and gas export.
The Balder field is situated in the central part of the North Sea, just west of the Grane field. A revised plan for development and operation (PDO) for Balder and Ringhorne was approved in June 2020.
The revamped development plan covers lifetime extension and relocation of the FPSO Jotun and drilling of new subsea wells.
Vår Energi made a final investment decision (FID) for the Balder Phase VI project a year after sanctioning the Balder Phase V project in the fourth quarter of 2024.
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