Balder is a producing conventional oil field located in shallow water in Norway and is operated by Var Energi. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, 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. Buy the profile here.
An expansion project is associated with the Balder, namely the Balder X Project (Balder & Ringhorne Development). This project is currently in the construction stage, expected to start in 2024.
Field participation details
The field is owned by Eni, HitecVision and Mime Petroleum.
Production from Balder
The Balder conventional oil field recovered 72.45% 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 25.00 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 180.68 Mmboe, comprised of 177.30 Mmbbl of crude oil & condensate and 20.29 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: Worley and Agility Group
Other Contractors: CGG, Apply, Ashtead Technology, EDS Group and C-Kore Systems
About Var Energi
Var Energi ASA (Var Energi) 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.
For more details on the Balder Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
