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November 23, 2021updated 27 Apr 2022 12:57pm

Balder Conventional Oil Field, Norway

By Carmen

Balder is a producing conventional oil field located in shallow water in Norway and is operated by Var Energi. The field is located in block 25/11P (PL 001), 25/8P (PL 027), 25/8P (PL 027 C), 25/8P (PL 169), and 25/10P (PL 028), with water depth of 426 feet.

An expansion project is associated with the Balder, namely Balder X Project (Balder & Ringhorne Development). This project is currently in the construction stage, expected to start in 2023.

Field participation details

The field is owned by Eni, HitecVision and Mime Petroleum.


Production from Balder

The Balder conventional oil field recovered 70.55% of its total recoverable reserves, with peak production in 2005. The peak production was approximately 120.28 thousand bpd of crude oil and condensate and 25 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2034. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 195.73 Mmboe, comprised of 192.03 Mmbbl of crude oil & condensate and 22.19 bcf of natural gas reserves. Balder conventional oil field reserves accounts 0.04% of total remaining reserves of producing conventional oil fields globally.


Contractors involved in the Balder conventional oil field

Some of the key contractors involved in the Balder project as follows.

Design/FEED Engineering: Aker Solutions

Main EPC: Baker Hughes and HitecVision

EPC Contractors: Agility Group and Worley

Other Contractors: Apply, Arab Petroleum Investments, C-Kore Systems, HitecVision and Island Offshore Subsea

About Var Energi

Var Energi ASA (Var Energi), formerly Eni Norge AS, is an oil and gas exploration and production company. It carries out the production and supply of crude oil and natural gas liquids (NGL). The company operates oil and gas fields, including Goliat, Marulk, Ringhorne, Jotun and Balder in the Norwegian Continental Shelf (NCS). Var Energi works in cooperation with Eni Trading & Shipping BV and Gassco AS to provide trading and transportation solutions for crude oil and NGL. The company has branch offices in Hammerfest and Oslo; Norway. Var Energi is headquartered in Sandnes, Stavanger, Norway.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

Related Companies

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