The company Vår Energi ASA has confirmed a new oil discovery in the Balder sector, located in the heart of the North Sea . This revelation was announced via a press release last week.
The Ringhorne North exploratory well, along with two secondary appraisal wells, operated from the Deepsea Yantai semi-submersible platform, have been successfully completed. Located 8 km north of the Ringhorne field, these wells have allowed us to estimate recoverable resources of between 13 and 23 million barrels of crude oil . This site is located approximately 200 km northwest of Stavanger.
It is worth noting that Vår Energi considers this discovery as a viable candidate for connection with the existing infrastructure in the Balder region, highlighting the potential for integration and commercial development.
Torger Rød, COO of Vår Energi, expressed his satisfaction at the opportunities still present in the mature areas of the Norwegian continental shelf. He stressed that the success of the near-field exploration strategy is a testament to the value that can still be extracted, especially in the Balder region where intensified exploration activities are planned.
For his part, Rune Oldervoll, executive vice president of exploration and production, highlighted the importance of the company’s exploratory portfolio, which is supported by the global experience of Eni, its main shareholder. He highlighted the company’s continued commitment to exploring new resources, with nearly 200 active licenses on the Norwegian continental shelf.
The impact of the new oil discovery
The discovery demonstrates the northern extent of the Ringhorne field and reduces the risk of future prospecting in the area and opens the door to development synergies with other nearby fields operated by Vår Energi, such as King-Prince and Evra-Iving.
In addition to the economic boost, this discovery underlines Vår Energi’s focus on producing high-value, low-emission barrels of oil. In a context of growing awareness of sustainability, the company is prepared to lead in efficient and responsible production in the North Sea, aligning with long-term production objectives that favor both economic growth and reduction of environmental impact.
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Source: rigzone.com
Photo: shutterstock
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