Oslo, 5 September 2025: BlueNord ASA ("BlueNord" or the "Company") has today announced its preliminary production figures for August 2025 and a revised production guidance for Tyra. In August 2025, the preliminary production was 37.2 mboepd net to BlueNord.

The base assets, Dan, Gorm, and Halfdan, produced 21.9 mboepd net to the Company, which was slightly below expectations. This was attributed to a mechanical defect in the Gorm lift gas compressor, which has now been repaired, and scheduled maintenance of the Halfdan IP/HP compressor, which also has been resolved. On Dan, a reactive well workover was successfully finished on 11 August, concluding the Dan well workover campaign with a total of six workovers completed. Year to date, a significant amount of scheduled maintenance has been carried out on the base assets, leading to more unplanned downtime. No major maintenance activities are planned for the rest of the year, and the production guidance for Q3 and Q4 is reiterated.

The Tyra hub produced 15.3 mboepd net to the Company which is lower than expected, primarily due to a four day production shut down related to IP compressor issues which have now been resolved. Additionally, the production was reduced over a two-week period due to a scheduled pigging of the Harald pipeline. While this maintenance activity was planned, it impacted production more than anticipated. In addition, during this summer, the production potential from Tyra was reduced due to process control challenges in the water treatment system. A dedicated task force at TotalEnergies has identified the root cause and remediation efforts are ongoing.

Despite the operational challenges during the month, Tyra production continued to ramp up during the last week of August with an exit export rate of net 25.1 mboepd on 31 August 2025.

Based on the Tyra performance, BlueNord revises its previously communicated Tyra production guidance for Q3 2025 from 22.0 - 26.0 mboepd to 17.0 - 19.0 mboepd, reflecting July and August production figures and the expected production in September. In addition, the Q4 production guidance for Tyra has also been revised from 26.0 - 30.0 mboepd to 21.0 - 27.0 mboepd, net to the Company. The Q4 production guidance range is expected to be narrowed by the Company during the fourth quarter.  
 

In the coming period, production at Tyra is expected to be impacted by scheduled maintenance and ongoing efforts to enhance facility reliability and performance. The operator has completed comprehensive studies aimed at improving production stability, and actions based on these findings will be carried out, which is considered in the revised production guidance.

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With well- and reservoir performance exceeding expectations, the underlying value of the Tyra hub remains intact, and BlueNord expects TotalEnergies to resolve the key issues identified such that stable production and the expected plateau production of c. 30.0 mboepd net to the Company is achieved during 2025.

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 
Phone: +47 915 28 501 
Email: cathrine.torgersen@bluenord.com