ABGSC acted as joint lead manager in connection with the NOK 300 million senior unsecured bond issue for Mime Petroleum

On Friday 7 February, Mime Petroleum successfully completed the issuance of a NOK 300 million senior unsecured bond with maturity in February 2025. The bond issue will enable Mime Petroleum to optimise the company’s capital structure and push forward with the Balder Future redevelopment in the North Sea.
The Balder Future project includes refurbishment of the Jotun FPSO, new subsea production systems and 14 new wells with a total investment of NOK 19.6 billion. Production is planned to start in the autumn of 2022 and some additional 136 million BOE is expected to be produced in the period up to 2045. Mime Petroleum submitted the PDO for the Balder Future project together with the operator Vår Energi in December 2019.