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 […]
Tag: Balder field
Kistos strengthened by Norway tax rebates
Kistos Holdings plc ended 2024 with a cash balance boosted by $84 million in tax rebates for the previous year relating to its Norwegian assets. BALDER AREA The company’s trading statement showed total cash of $144m with undrawn cash of a further $20m in place. Proforma net debt totalled approximately $45 million including tax rebates […]
Kistos protected from Balder X delay
Kistos Holdings plc said that production has been deferred from the end of 2024 to the second quarter of 2025 at the Balder X development project in the Norwegian North Sea. GROWTH The company acquired a 10% interest in Balder, comprising the Balder and Ringhorne fields, and a 7.4% stake in the Ringhorne East unit […]
Kistos turns from ‘difficult’ UK to Norway
Kistos Holdings plc plans to expand into the Norwegian Continental Shelf with a conditional agreement to acquire Mime Petroleum A.S. BALDER – RINGHORNE Executive chairman Andrew Austin said that commodity price volatility and fiscal uncertainty had made it difficult to agree deals in the UK and the Netherlands. “I expect Mime to be a platform […]