02 July 2025
02 July 2025
The size of the discovery is estimated between nine and 15 million barrels of oil.
The $484m deal will support the company in focusing on its growing electric utility business.
The project, which is nearing the final stages of hook-up, is expected to commence oil production later this summer.
The new oil and gas treatment plant at the Rincón de Aranda field is expected to start next year.
The Balder Phase VI project revolves around the newly installed Jotun FPSO.
Production from this phase is expected to begin in the fourth quarter of 2027.
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