Kistos (Holdings) plc said that the upgraded Jotun floating production storage and offloading vessel is undergoing tests ahead of installation in the Balder area in the Norwegian central North Sea.
PROLIFIC
The FPSO will be towed from the quayside at Worley Rosenberg yard in Stavanger to Åmøyfjorden for inshore sea trials and anchor installation work before being towed to the field.
“With all 14 production wells completed and associated subsea equipment installed, the tie-up and final commissioning of the Jotun FPSO is expected to be undertaken over the coming months, with first oil targeted for the end of Q2,” added Kistos.
The company holds a 10% interest in the Balder area while operator Vår Energi owns 90%.
The project comprises two main fields, Balder and Ringhorne Øst, lying in a water depth of approximately 125 metres.
The Balder Future project involves drilling 14 new production wells and one new water injector on the Balder field, alongside the refurbishment of the Jotun FPSO.
Executive chairman Andrew Austin said: “The Jotun FPSO sail away is a major milestone for the Balder Future project, ensuring it remains on track to deliver first oil by the end of Q2 ahead of reaching peak production by year-end, with 8,000 boepd net to Kistos in addition to the current Balder Area production of circa 3,000 boepd net.
“This near-term production uplift is expected to have a meaningful impact on our cashflow.
“Beyond first oil, we remain focused on converting contingent resources into reserves and are actively working alongside the operator to progress the new appraisal and development opportunities that the installation of the Jotun FPSO will offer across Balder.
“This represents a significant upgrade in the infrastructure to extract hydrocarbons from what is recognised as a prolific basin.
“We are excited to be part of this journey.”