Vår Energi, formed by the recent merger of Point Resources and Eni Norge, has awarded a FEED contract to Aker Solutions for the Jotun A FPSO life extension as part of its redevelopment of the Balder and Ringhorne area.
The main objective of the FEED study is to detail the scope of work required to extend the life of the Jotun A FPSO vessel in the North Sea. The FPSO will be disconnected and brought to shore for a scheduled one year yard-stay. It will then be reinstalled in the Balder field, scheduled for 2021.
Kristin F. Kragseth, CEO of Vår Energi, commented: “This contract marks the first milestone for operated development in Vår Energi. With ambitions to grow, we see major opportunities in Norway, and I am proud that the oldest license area on the NCS, the Balder field, continues to create value and provide job opportunities for future generations.”
Vår Energi is investing around NOK20bn ($2.31bn) in the redevelopment of the Balder and Ringhorne area. It plans to award several contracts in the Balder X Project, such as engineering procurement construction and installation for the Jotun FPSO, subsea production system, and subsea umbilical, risers and flowline.