BlueNord ASA

BlueNord: Update on Tyra Redevelopment Project and Tyra Completion Test

Oslo, 28 February 2025: BlueNord ASA ("BlueNord" or the "Company") is pleased to

announce that on 27 February, the Tyra Redevelopment Project ("Tyra II")

achieved a gas export rate above 200 mmscfpd. Including associated liquids

production, this corresponds to approximately 23 mboepd net to the Company.

This gas export rate exceeds the threshold of 191 mmscfpd required by the RBL

completion test for Tyra (the "Tyra Completion Test"). To satisfy the Tyra

Completion Test, gas export must exceed 191 mmscfpd on average over a rolling 30

-day period.

Upon meeting the Tyra Completion Test, BlueNord will reach an important

milestone and be able to commence distributions to its shareholders. Based on

current performance and the continued progress of the ramp-up phase, the Company

anticipates meeting this 30-day average requirement of 191 mmscfpd in mid-March.

Separately, the operator TotalEnergies has announced this morning that the gas

production level meets its previously communicated target under REMIT, thereby

concluding the REMIT process for Tyra II. However, TotalEnergies also announced

this morning that they continue to expect the Tyra gas hub to supply up to 2.8

billion cubic meters of gas per year. BlueNord continues to expect a gross

plateau production of approximately 80 mboepd to be reached in March. BlueNord

will update the market in due course.

Reference is also made to the REMIT notifications issued by TotalEnergies:

Postings (gashub.at) (https://www.gashub.at/remit/postings.xhtml).

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.

***

Contact:

Cathrine Torgersen, Chief Corporate Affairs Officer

Phone: +47 915 28 501

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 has a 36.8 percent interest in

the Danish Underground Consortium (DUC) that is responsible for oil and gas

production in the Danish North Sea. BlueNord is listed on the Oslo Stock

Exchange and trades under the ticker "BNOR". For further information, please

visit: www.bluenord.com.

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