BlueNord: Update on Tyra Redevelopment Project and Tyra Completion Test
OSLO, Norway, Feb. 28, 2025 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") is pleased to announce that on 27 February, the Tyra Redevelopment Project ("Tyra II") achieved a gas export rate above 200 mmscfpd. Including associated liquids production, this corresponds to approximately 23 mboepd net to the Company.
This gas export rate exceeds the threshold of 191 mmscfpd required by the RBL completion test for Tyra (the "Tyra Completion Test"). To satisfy the Tyra Completion Test, gas export must exceed 191 mmscfpd on average over a rolling 30-day period.
Upon meeting the Tyra Completion Test, BlueNord will reach an important milestone and be able to commence distributions to its shareholders. Based on current performance and the continued progress of the ramp-up phase, the Company anticipates meeting this 30-day average requirement of 191 mmscfpd in mid-March.
Separately, the operator TotalEnergies has announced this morning that the gas production level meets its previously communicated target under REMIT, thereby concluding the REMIT process for Tyra II. However, TotalEnergies also announced this morning that they continue to expect the Tyra gas hub to supply up to 2.8 billion cubic meters of gas per year. BlueNord continues to expect a gross plateau production of approximately 80 mboepd to be reached in March. BlueNord will update the market in due course.
Reference is also made to the REMIT notifications issued by TotalEnergies: Postings (gashub.at) (https://www.gashub.at/remit/postings.xhtml).
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contact:
Cathrine Torgersen, Chief Corporate Affairs Officer
Phone: +47 915 28 501
Email: cathrine.torgersen@bluenord.com
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