Asset Report
Balder & Ringhorne
Report summary
The Balder and Ringhorne oil fields are in the southern part of the Viking Graben, between the Heimdal field to the north and the Sleipner fields to the south. The Balder field comprises several oil-bearing mound structures, whilst the Ringhorne area includes the 25/8-10S Ringhorne, 25/8-11 Ringhorne and Forseti fields, as well as several of the other Balder mounds. The fields are geologically complex and have been developed via a floating production, storage and offloading (FPSO) vessel, ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Balder X delay and cost overrun
- Production and drilling challenges leads to reserve downgrade
- King and Prince phase development planned
- Potential Ringhorne Phase V targeted for 2025
- Future exploration upside
- Norma discovery opens new play
- Accelerated capital allowance on near-term investment
- Decarbonisation - power from shore/partial electrification is under consideration
- Location maps
-
Participation
-
Unitisation
- Historical Licensing and Corporate Activity
-
Unitisation
- Geology
- Well data
-
Exploration
- Future activity
- Recent exploration drilling
- Historical exploration drilling (1967-2010)
- Reserves and resources
-
Production
- Emissions
-
Development
-
Overview
- Initial development (1995-2003)
- Ringhorne Jurassic project (2003)
- Ringhorne development drilling (2005-2016)
- Ringhorne Phase III (2017-2022)
- The Balder X Project (2019-present)
- King and Prince (2023+)
-
Overview
-
Infrastructure
- Oil
- Gas
-
Costs
-
Capital Costs
- Decommissioning
- Operating Costs
- Tariff Receipts
-
Capital Costs
- Sales contracts
- Fiscal and regulatory
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Gas price
- Exchange rate
- Carbon price
- Fiscal Terms
- Global Economic Model (GEM) file
-
Economic analysis
- Cash flow
- Indicative valuations
Tables and charts
This report includes 31 images and tables including:
- Key facts: Table 1
- Index map
- Balder & Ringhorne map
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Production: Table 1
- Production: Table 2
- Balder & Ringhorne Production Profile
- Participation: Table 1
- Main Balder & Ringhorne field and Ringhorne III
- Costs: Table 2
- Balder X (Balder Future Project and Ringhorne IV)
- Costs: Table 4
- Costs: Table 6
- Costs: Table 7
- Cash Flow (US$ million)
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2024)
- Remaining PV Price Sensitivities
- Cash Flow (NKr million)
- Economic analysis: Table 5
- Economic analysis: Table 6
- Economic analysis: Table 7
- Development: Table 1
- Costs: Table 5
What's included
This report contains:
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