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NO

Our business

Our business

Our business

Our business

Vår Energi is the largest, independent exploration and production (E&P) company on the Norwegian continental shelf (NCS) with a 2018 average net production of over 170,000 barrels of oil equivalent per day (boepd) from 17 oil and gas fields. Our target is to achieve net 250,000 boepd in the early 2020’s.

The company operates five fields on the NCS, located in the Barents Sea, the Norwegian Sea and the North Sea. In addition to operated fields located across the entire shelf, Vår Energi has ownership interests in 14 partner-operated fields.

We have a best practice operating organisation with over 50 years’ experience on the NCS, built on ExxonMobil’s and Eni’s Norway legacies from the 1960’s. With our strong NCS history and highly qualified organisation, we are well prepared to maintain safe operations and to deliver high growth expectations.

A full overview of Vår Energi’s complete portfolio is available in our interactive License map.




Production

Vår Energi operates five fields on the Norwegian continental shelf (NCS), located in the Barents Sea, the Norwegian Sea and the North Sea. The company is operator of oil and gas production in all Norwegian seas. Vår Energi has ownership interests in 14 partner-operated fields on the NCS. Our main objective is maximizing value creation, and we will continue to work with our partners to increase oil recovery.


Development

Vår Energi’s net daily production is expected to reach 250,000 barrels of oil equivalent by 2023, after developing more than 500 million barrels of oil equivalent (Mboe) in over ten existing projects in our development portfolio on the Norwegian continental shelf (NCS). This will require investments of about NOK 65 billion over the next five year period.


Exploration

Vår Energi has reserves and resources of more than 1,250 million barrels of oil equivalent (Mboe) on the Norwegian continental shelf (NCS). One of our highest priorities is the replacement of resources and reserves, which forms the basis for future growth of business. All opportunities are taken through our internal quality assurance review systems and the highest-ranking candidates naturally receive priority funding from a robust financial platform.



Commercial and business development

The plan is to develop ten fields over the next five years on the Norwegian continental shelf, which requires investments of NOK 65 billion. This will support Vår Energi’s position as the largest independent E&P company offshore Norway. In cooperation with Vår Energi’s shareholders, our business development department will continue to identify new opportunities to deliver growth according to the business plan.

Supply terms

Vår Energi’s suppliers and business partners play a key role in executing safe operations and delivering high quality products and services. We are committed to cooperate closely with our contractors and suppliers. The company is applying a high standard of corporate governance. Our aim is to make ethical, responsible and profitable decisions and act accordingly. Our main priority is health and safety.