Fossil Energy – Brage Field
Vår Energi has agreed to sell its 12.2575% interest in the Brage Unit in the central Norwegian North Sea to Petrolia NOCO.
Brage, operated by OKEA, started production in 1993 through a production, drilling and quarters platform. The oil is transported via pipeline to the OTS/Sture terminal in western Norway and the gas through Gassled.
Vår Energi’s net production from the field was 1,000 boe/d in the first half 2023, and its remaining net reserves at the end of last year were 1.9 MMboe.
The transaction should close by the end of 2023, subject to regulatory approvals.
