Norwegian Sea wildcat on Odfjell Drilling-managed rig’s agenda

Norwegian authorities have handed out a drilling permit for an exploration well in the Norwegian Sea, which is expected to be drilled this month using one of Odfjell Drilling-managed semi-submersible rigs.

The Norwegian Offshore Directorate has granted Vår Energi a drilling permit for the wellbore 6406/11-2 S in production license 586, which was awarded on April 2, 2011, and is valid until the same date in 2039.

Vår Energi holds an ownership interest of 75% and acts as the operator of the license, while its partners are Sval Energi (17.5%) and DNO Norge (7.5%).

The well will be drilled in May 2025 with the Deepsea Yantai rig, which is owned by China’s CIMC and managed by Odfjell Drilling. The 2019-built rig, which is of a GM4D design, is capable of harsh environment operation.

Vår Energi plans to increase its production to above 350,000 barrels per day by the end of 2025, focusing on four strategic hubs in the Balder/Grane area, the North Sea, the Norwegian Sea, and the Barents Sea.