Related Articles
Balder floating production unit
Forward article link
Share PDF with colleagues

Var hits oil in Balder Area probe

The firm’s NCS near-field exploration strategy pays off again

Norwegian producer Var Energi, a joint venture between private equity firm Hitec Vision and Italy’s Eni, has made a discovery totalling an initially estimated 60-135mn bl oe from its King and Prince exploration wells close to the Balder field in the Southern North Sea. Var says the find is its “fifth significant exploration discovery so far this year”. “The discoveries prove that there are still opportunities in the mature areas on the Norwegian Continental Shelf (NCS). Clearly, our near-field exploration strategy is paying off and is certainly an approach we will continue to pursue,” says the firm’s CEO Torger Rod. Var, which holds a 90pc stake in the licence, and its 10pc partner Mime Pe

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Malaysia awards another offshore block to Shell
29 July 2021
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Shell greenlights Whale venture
29 July 2021
Gulf of Mexico FIDs may be waning, but latest approval shows they can still be viable
Governments in race to unlock potential of CCS
29 July 2021
Policymakers must ensure key technology for reaching net-zero sustains momentum over the next decade
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video