The Operator, Vår Energi, has temporary reduced production from the Balder field by about 9 000 barrels (gross) per day, representing a net reduction for the Company of approximately 900 barrels per day. 

This is a precautionary measure following a potential integrity concern associated with a riser identified through the Operator’s monitoring systems. Ongoing inspection and analysis will determine when production can be resumed.

The Company has assessed the potential implications of the temporary reduction at Ringhorne and Balder. The riser was scheduled to be changed during 2023 and acceleration measures are now investigated for preparedness purposes. 

There is no impact on the Company’s reserves, and the deferred volume is expected to be produced by year end 2026. The impact on the Company’s cash flow is estimated to amount to a reduction of USD 6-17 USD million, pending when production reverts to normal.

KeyFacts Energy: Vår Energi Norway country profile