BlueNord: Update on Tyra Redevelopment Project

Oslo, 19 December 2024: BlueNord ASA ("BlueNord" or the "Company") today issued an update on the progress of the Tyra Redevelopment Project (“Tyra II”).

The ramp-up of Tyra II is underway, with gas production successfully re-established from three of the six fields. However, operational challenges and adverse offshore weather conditions have impacted progress and limited weather windows have delayed the reactivation of the Tyra satellite wells.

The Company has been informed by TotalEnergies, the operator of the DUC, that based on current weather forecasts the timeline for reactivating all satellite wells required to achieve plateau production has been extended by approximately three weeks. As a result, plateau production is now expected to be reached in the second half of January.

Reference is also made to the REMIT notifications issued by TotalEnergies: Postings (gashub.at) (https://www.gashub.at/remit/postings.xhtml).

“While it is disappointing in the short-term that plateau production is now expected early in the new year, the recent above-ground challenges are now well understood and the long-term potential of Tyra II remains strong.  Once the necessary wells have been reactivated, we do not expect performance to be subject to weather in the way that it has been during the start-up phase.  We are looking forward to reaching plateau production in January 2025, and to communicating further on the promising HEMJ results as well as initiating our capital returns programme,” said Euan Shirlaw, Chief Executive Officer of BlueNord

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

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Contact: 
Cathrine Torgersen, Chief Corporate Affairs Officer 
Phone: +47 915 28 501 
Email: cathrine.torgersen@bluenord.com 
 

About BlueNord ASA 
BlueNord is a strategically important European oil and gas company that specialises in producing and developing energy resources, and in activities which support the energy transition. The Company has a 36.8 percent interest in the Danish Underground Consortium (DUC) that is responsible for oil and gas production in the Danish North Sea. BlueNord is listed on the Oslo Stock Exchange and trades under the ticker "BNOR". For further information, please visit: www.bluenord.com.