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Vår Energi Takes Final Investment Decision on North Sea's Balder Project

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Vår Energi (VAR.OL) made a final investment decision for the Balder Next New Wells project in the North Sea.

Under the project, the upstream oil and gas company will develop seven new wells, which will be tied back to its Jotun floating production, storage, and offloading vessel. The start-up is expected in the fourth quarter of 2027, with the wells expected to provide 86 million barrels of oil equivalent gross in proved plus probable reserves.

Vår Energi is the operator and owns a 90% stake in the Balder field, while the remaining 10% is owned by Kistos (KIST.L) unit Kistos Energy Norway.

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