Depsea Yantai rig; Source: Odfjell Drilling

Vår Energi getting ready to spud North Sea wildcat

Norwegian oil and gas player Vår Energi has secured a drilling permit from the country’s authorities to drill a wildcat well in the North Sea off Norway, using one of the Odfjell Drilling-managed semi-submersible rigs.

Depsea Yantai rig; Source: Odfjell Drilling

The Norwegian Offshore Directorate (NOD), former Norwegian Petroleum Directorate (NPD), recently granted Vår Energi a drilling permit for the well 25/8-23 S in production license 956, which was awarded on March 2, 2018, and is valid until March 2, 2027.

Vår Energi holds an ownership interest of 50% and acts as the operator of the license, while its partners are Aker BP (20%), Sval Energi (15%), and Harbour Energi Norge (15%). The well will be drilled with the Deepsea Yantai rig, which is owned by China’s CIMC and managed by Odfjell Drilling.

The 2019-built Deepsea Yantai rig, which is of a GM4D design, is capable of harsh environment operation. This rig recently found gas during the drilling of the appraisal well 35/6-4 (Ofelia) in the North Sea.

Vår Energi is set on growing its production to above 350,000 barrels per day by end-2025, with additional upside from taking over Neptune Energy Norway. The Norwegian firm also handed out a five-year deal to Halliburton, covering drilling services related to exploration and production drilling across its portfolio on the NCS.

The company’s drilling activities are focused around four strategic hubs in the Balder/Grane area, the North Sea, the Norwegian Sea, and the Barents Sea. Recently, Vår Energi hired a sixth-generation semi-submersible rig from COSL Drilling Europe for drilling operations in the Barents Sea.