BlueNord: FID Taken on New Well Expected to Increase Production

News provided by

Jan 12, 2024, 01:30 ET

OSLO, Norway, Jan. 12, 2024 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") is pleased to announce a Final Investment Decision ("FID") on the Harald East Middle Jurassic well ("HEMJ"), expected to be spudded during the summer of 2024.

The HEMJ well will be drilled in the Harald East area, located close to the Norwegian border and the gas is exported through the Tyra East facilities. In a success case, the well could deliver production by end of 2024. The expected gain from the well is up to 8 mmboe net to BlueNord of which ca 80% is gas. This well is drilled into the Jurassic with good reservoir properties, however with a wide range of subsurface outcomes with respect to volume.

The cost of the well is ca USD 28 million net to BlueNord, and with an attractive unit development cost. The concept for hook-up and potential life extension of Harald will be decided after the well has been drilled.

"I am delighted to announce another Final Investment Decision in the DUC drilling sequence. The Harald East Middle Jurassic well will be drilled through the chalk reservoir and into the Jurassic reservoir which has excellent reservoir properties. We look forward to getting the results and to add to the production through the new Tyra facilities by the end of the year," said Marianne Eide, Chief Operating Officer in BlueNord.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact:

Cathrine Torgersen, Chief Corporate Affairs Officer
Phone: +47 915 28 501
Email: [email protected]