BlueNord ASA announced that the Tyra Redevelopment Project in the late hours on 21 March 2024 successfully reached an important milestone with the safe restart of production. Since the acquisition of Shell's upstream assets in Denmark in 2019, the Tyra Redevelopment Project has been the key focus for the Company and its partners in the Danish Underground Consortium, and first production from Tyra II marks a true inflection-point for BlueNord and its stakeholders. The Tyra Redevelopment Project is, to date, the project carried out on Danish Continental Shelf with the fabrication and installation of eight new platform topsides.

With production from Tyra, Denmark will not only be self -sufficient but also a net-exporter of natural gas to Europe. The production from the new Tyra facilities is expected to more than double BlueNord's net production to over 50 mboepd by the end of 2024 and unlock gross reserves of more than 200 mmboe. In addition, redeveloped Tyra will significantly decrease field opex and emissions intensity, and at the same time extend its field life by 25 years, only constrained by the 2042 license expiry.