Oslo, 18 March 2026: BlueNord ASA ("BlueNord" or the "Company") has today
published its 2025 Annual Statement of Reserves and Resources. As of 31 December
2025, the Company's net Proven and Probable ("2P") Reserves were 172.4 MMboe. In
addition, the Company has net Contingent Resources ("2C") associated with near
-term projects of 22.6 MMboe.
During 2025, BlueNord's producing assets delivered strong operational
performance, supporting a positive contribution to reserves on production. This
was underpinned by the successful commissioning of the HCA gas lift project and
the strong performance of the Harald East Middle Jurassic well ("HEMJ"), which
resulted in an upward reserves revision and continues to contribute meaningfully
to production from the Tyra hub.
This positive performance was partly offset by revisions to certain development
projects, including the transition from the Halfdan North concept to the more
economically robust Tyra South East Extension ("TSEE") development. The updated
concept is expected to deliver improved capital efficiency and stronger overall
project economics, with further subsurface and well planning work ongoing to
optimise recovery.
"Our reserves position at year-end 2025 reflects both the performance of our
producing assets and the steps we have taken to optimise the development
portfolio. During the year, we delivered positive reserves replacement from
producing assets, supported by strong contributions from the HEMJ well and the
successful start-up of the HCA gas lift project. At the same time, we have
worked to strengthen our project portfolio, including the optimisation of the
Halfdan North concept into the TSEE development. While this has resulted in a
downward reserves revision, we believe it will deliver a more robust project,
lower capital expenditure and strengthen long-term value. Looking ahead, we
have been invited by the Danish Government to explore a potential licence
extension to 2050, which provides further opportunity to enhance recovery and
supports our long-term outlook," said Miriam Lykke, Chief Operating Officer of
BlueNord.
The Reserves Report is attached and will be made available on the Company's
website www.bluenord.com.
This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.
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Contact:
Cathrine Torgersen, Chief Corporate Affairs Officer
Email: cathrine.torgersen@bluenord.com
Phone: +47 915 28 501
About:
BlueNord ASA BlueNord is a strategically important European oil and gas company
that specialises in producing and developing energy resources, and in activities
which support the energy transition. The Company has a 36.8 percent interest in
the Danish Underground Consortium (DUC) that is responsible for oil and gas
production in the Danish North Sea. BlueNord is listed on the Oslo Stock
Exchange and trades under the ticker "BNOR". For further information, please
visit: www.bluenord.com.