Receive our newsletter – data, insights and analysis delivered to you
  1. Market Data
November 23, 2021

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 2022.

Field participation details

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


Production from Balder

The Balder conventional oil field recovered 69.37% 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.


Remaining recoverable reserves

The field is expected to recover 203.81 Mmboe, comprised of 200 Mmbbl of crude oil & condensate and 22.88 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 Ocean Installer

EPC Contractors: Agility Group and Worley

Other Contractors: Apply, Arab Petroleum Investments, Island Offshore Subsea, NOV and Ocean Installer

Content from our partners
Green investment: What gives Scotland multiple advantages
How the North of Tyne region is leveraging its legacy to define its future

About Var Energi

Var Energi AS (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

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU