Name: Fenris Area
Brand: Wood Mackenzie
SKU: 8004
Price: 5280 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Asset Report 16 June 2026

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Report summary

The Fenris Area (previously King Lear) includes the Fenris and Julius high pressure/high temperature (HP/HT) gas condensate fields. The fields are located in the Central North Sea, approximately 20 kilometres north of Ekofisk. The fields are being developed through a joint development solution with Valhall.

Summary
Key Issues
- Development costs are creeping up but project remains on track
- Reservoir conditions are challenging
- Further infill drilling acts as upside
- Power from shore will limit field level emissions
- Historical corporate activity and licensing
- Future exploration
- Historical exploration
Emissions
Facilities
Drilling
- Capital costs
- Decommissioning costs
- Operating Costs
- Opex share
- Transportation and processing costs
- Opex share
- Emission taxes
Cash flow
Condensate price
Fiscal terms
Global Economic Model (GEM) file
Cash Flow
- Cash flow (US$ million)
- Cash flow (NKr million)