Vår Energi is a new leading exploration and production (E&P) company on the Norwegian continental shelf (NCS), following the merger of Eni Norge AS and Point Resources AS.
The company name, Vår Energi, reflects the Norwegian word spring – symbolising a new beginning and growth. It also implies that the company’s employees and business partners work together as one team to produce “our” resources; creating values for shareholders, stakeholders and Norwegian society.
With operated oil and gas production across the shelf, we have a best practice operating organisation with over 50 years’ NCS experience, built on the companies’ legacies offshore Norway from the 1960’s.
The first license awarded on the NCS in 1965, PL 001, is currently being redeveloped. PL 001, or Balder, was the first oil discovery offshore Norway. Uncommercial at the time in 1967, but technological improvements enabled production start-up in 1999. The plan is to extend the lifetime of the Balder and Ringhorne fields towards 2045 – providing a life span of 80 years for PL 001; reflecting the shareholders and the oil and gas industry’s long-term business perspective.
Our dedicated commitment to increased oil recovery on the NCS is also demonstrated through Norsk Agip’s (later Eni Norge) participation in the discovery of Ekofisk in 1969; celebrating its 50th anniversary in 2019. The licensees have revitalised the field; enabling production of oil and gas into the next decades.