Onss Commissioned

DELAYED +2yr (Apr 2026): The onshore power-from-shore facilities connected to Tensio’s Straum transformer station are part of the same Draugen–Njord electrification project. OKEA’s 2025 Annual Statement of Reserves (section 3.3.1 on Draugen) notes that the Draugen–Njord PfS project was sanctioned in 2022, approved by authorities in 2023, and now has an "expected start up for PfS on Draugen" in 2028. Earlier planning (reflected in our original projection) envisaged completion and commissioning of the onshore facilities in 2026, ahead of first power to the fields in early 2027. With the developer’s formal timeline now indicating PfS start-up only in 2028, commissioning of the Straum onshore substation and associated grid connection cannot realistically occur as early as 2026. The onshore substation commissioning date is therefore adjusted to 2028 (year-level precision) to be consistent with the revised overall project schedule. --- OKEA states that the onshore facilities for the Draugen Power from Shore project, which will supply electricity to the Njord asset via Draugen, are planned to be completed and put into operation in August or September 2026, coinciding with the electrification of Njord.