Oslo 10 March 2025: Reference is made to stock exchange notice published by BlueNord ASA ("BlueNord" or the "Company") on 28 February 2025 relating to the Tyra Redevelopment Project (Tyra II") achieving a gas export rate above 200 mmscfpd. BlueNord has been informed by the operator, TotalEnergies, that an operational occurrence is temporarily impacting the maximum production potential of Tyra II.

 
As a result of a breaker failure in the electrical high-voltage system, parts of the power supply have been temporarily cut.  This reduced power supply impacts production at the fields within the Tyra hub. Based on the expected delivery time for necessary replacement parts, full operational capacity is expected to be reached within the next four weeks. Gas export will continue in the interim period from the Harald field.

 
The Tyra hub, which produced 15.1 mboepd in February, is now expected to produce 8.0 - 10.0 mboepd during Q1 2025 compared to previous guidance of 17.0 - 20.0 mboepd.

" Although this operational setback is of course disappointing, the operator has now fully assessed the situation and put in place a plan to implement the necessary corrective measures. We expect to restore full capacity within the next four weeks once the required parts are in place, and we fully believe that this one-off event does not undermine the long-term value and potential of Tyra II to our shareholders," said Miriam Lykke, Chief Operating Officer in BlueNord.

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