On 23 June 2023, Vår Energi ASA agreed to acquire 100% of the shares in Neptune Energy Norge AS from Neptune Energy Group Holdings Limited for an enterprise value of USD 2.275 billion, adding Neptune’s Norwegian portfolio including the Gjøa area where the Gjøa platform is already electrified. The deal will strengthen Vår Energi’s position in its core hubs and expand its hub strategy to key growth assets including operatorship of Gjøa, subject to regulatory approvals and completion expected in the first quarter of 2024.
Vår Energi ASA
In June 2018, A/S Norske Shell entered into a sale and purchase agreement with OKEA to divest its stakes in the Draugen and Gjøa fields on the Norwegian Continental Shelf, including Shell’s 12% interest in the Gjøa field. The transaction formed part of Shell’s global USD 30 billion divestment programme and transferred Shell’s Gjøa stake, with associated staff, to OKEA.
OKEA ASA acquired from A/S Norske Shell (12%)
The Gjøa power-from-shore electrification system, based on ABB’s high-voltage dynamic AC cable supplying alternating current from shore to the floating Gjøa production platform in the northern North Sea, entered operation in 2010. The dynamic 115 kV cable system has been successfully in service since then to deliver power from the mainland grid to the platform, providing one of the first high-voltage dynamic cable applications for offshore oil and gas electrification.
ABB’s 115 kV dynamic AC subsea cable supplying power from shore to the Gjøa floating production platform in the northern North Sea underwent successful testing from 2010, demonstrating reliable operation of the dynamic export cable system for the Gjøa power-from-shore electrification link.
Global Marine Systems entered into an agreement with ABB to complete subsea power cable installation works on three projects, including the StatoilHydro Gjøa power-from-shore link between the Mongstad power plant north of Bergen and the Gjøa floating production platform in the North Sea. Under this agreement, Global Marine Systems, replacing a previous installation provider, will use vessels such as CSV North Ocean 102 and CLV Team Oman along with associated personnel and equipment to finish the Gjøa cable installation campaign, which was estimated to be completed by Q2 2010 and is expected to cut CO2 emissions by about 250,000 tonnes per year from the platform.
| Nord‑Hordaland | Norway | |
|---|---|---|
| Landfall | Mongstad, Vestland, Norway | N/A |
| Grid Connection | Mongstad onshore complex / Mongstad substation | Mongstad (onshore substation / Mongstad complex) |
Nord‑Hordaland
Norway