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