Tax change spurs Vår to resume drilling offshore Norway

Tax change spurs Vår to resume drilling offshore Norway

Vår Energi has re-started drilling activities in the Barents Sea and Norwegian North Sea, which the company postponed this spring following the sudden negative global developments.

The company took its decision following temporary changes to Norway’s petroleum tax, adopted by the country’s parliament (Storting) in June.

Saipem’s semisubmersible Scarabeo 8 will drill two production wells and one water injector for the company at the Goliat field in the Barents Sea, and the King Prince exploration well close to the Balder/Ringhorne field in the North Sea.

Annethe Gjerde, vice president Procurement at Vår Energi said: “The Storting’s decision means that we can quickly turn around to carry out these drilling activities…The goal is for us to start drilling activity in the Barents Sea late autumn 2020.

“Good co-operation with suppliers is of course a crucial prerequisite for achieving this. We see a willingness to find good solutions despite the challenges we face.”

Source: offshore-mag.com

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Published: 17-07-2020