Oslo, 18 October 2023: BlueNord ASA ("BlueNord" or the "Company") today
published its third quarter 2023 results. During the quarter, the Company
delivered strong operational and financial performance.  Tyra II de-risking
continued and BlueNord now expects the revised start-up strategy to accelerate
plateau production into Q2 2024, delivering greater volumes from Tyra during
2024 than what was previously communicated through the Company's long-term
production outlook.

Highlights:

  · Second quarter net hydrocarbon production of 24.7 mboepd, in upper end of
quarterly guidance
  · Revenues of USD 200 million for the quarter compared to USD 191 million in
the previous quarter
  · EBITDA in Q3 of USD 106 million, compared to USD 99 million in Q2
  · Operating Cash Flow in the quarter of USD 113 million, compared to USD 58
million in the previous quarter
  · Total liquidity of USD 506 million at the end of the period, with cash on
balance sheet of USD 306 million
  · Tyra II start-up now expected in early Q1 2024, which will enable a faster
ramp-up than previously assumed and for plateau production to be reached in Q2
2024.

Operational
Net hydrocarbon production for the quarter was 24.7 mboepd. This is in upper end
of the quarterly guidance range of 24.0 - 25.0 mboepd. The overarching strong
production trend seen in the first half of 2023 is continuing with production in
October to date at 26.5 mboepd and the outlook for the producing assets is
expected to remain strong driven by planned optimisation work. The Halfdan
infill well spudded in June is now expected to contribute volumes from early
2024 rather than Q4 2023 as previously expected. Routine flaring has
successfully been eliminated in the DUC by re-routing the final stabilization of
Halfdan oil from Gorm to Dan

Tyra II
The Tyra Redevelopment project made significant progress during the quarter with
several milestones achieved. All subsea work has been completed, reconnecting
all the satellite fields to the Tyra hub. Furthermore, leak testing has now been
completed on the most complex systems and recent progress has been good on the
remaining critical process system required to be completed for export. With more
visibility around the path from first gas to plateau production, first gas is
now expected in early Q1 2024 and plateau production in Q2 2024.  This
accelerated ramp-up, which will deliver plateau production earlier than what
BlueNord has previously communicated, has been enabled by the revised start-up
strategy which will allow more efficient execution of the remaining work
necessary to reach plateau before the introduction of hydrocarbons. BlueNord now
expects Tyra will deliver greater volumes during 2024 than forecasted in our
previously published long-term production outlook.  As a result, this profile is
now under review and the contribution from Tyra in 2024 is expected to be
revised upwards.

Corporate
Appointment of Jacqueline Lindmark Boye as Chief Financial Officer (previously
EVP Finance) and Cathrine Torgersen as Chief Corporate Affairs Officer
(previously EVP Investor Relations & ESG), recognising their strong contribution
to BlueNord.

"During the third quarter our base assets continued to demonstrate their
importance, maintaining strong operational performance throughout and delivering
production in the upper range of our guidance for the period.  We expect strong
production to be a continuing theme, driven by proactive optimization work
carried out by the operator. Our focus and commitment to bringing Tyra onstream
continues, and we have made substantial recent headway.  As we get closer to
first gas, it has become clear that completing more work prior to the
introduction of hydrocarbons will result in a significantly shorter ramp-up to
plateau production.  BlueNord is therefore announcing today a revised start-up
strategy where we expect to achieve first gas in early Q1 2024 and plateau
production in Q2 2024.  This will see greater volumes than previously expected
being delivered by Tyra in 2024, and consequently our long-term production
profile is currently under review.  Once onstream, Tyra will help us deliver our
goal of producing over 55mboe/d net by 2025 and, in doing so, be positioned to
provide a material return of capital to our shareholders," said Euan Shirlaw,
Chief Executive Officer of BlueNord.

The report and investor presentation may be downloaded from the Company's
website www.bluenord.com or www.newsweb.no.

The Company will host a webcast today at 10:00 CEST.

To join webcast:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231018_1

Contact:
Cathrine F. Torgersen, Chief Corporate Affairs Officer
Phone: +47 915 28 501
Email: cathrine.torgersen@bluenord.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Cathrine Torgersen, Chief Corporate Affairs
Officer, BlueNord ASA, at the date and time as set out above.

***

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 operates in the Danish North
Sea with a 36.8 percent interest in the Danish Underground Consortium (DUC).
BlueNord is listed on the Oslo Stock Exchange and trades under the ticker
"BNOR". For further information, please visit: www.bluenord.com.