We are set up to create value and further growth.
The company name, Vår Energi, reflects the Norwegian word for “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 our owners, our stakeholders and the Norwegian society.
Vår Energi was formed in 2018 following the merger of Eni Norge AS and Point Resources AS. The company represents a new generation exploration and production (E&P) companies on the Norwegian continental shelf (NCS).
Today, we are a leading independent oil and gas company on the NCS with a diversified and robust portfolio and a value-enhancing hub strategy.
We have a best-practice focused organisation with over 50 years of NCS experience and operate our own oil and gas production.
Vår Energi is the current operator of the first license awarded on the NCS in 1965, PL 001, which is currently being redeveloped.
The Balder field in PL 001, was the first oil discovery offshore Norway. While uncommercial at the time in 1967, later technological improvements enabled production start-up in 1999, and the field is still producing today.
We are also a license partner in the Ekofisk discovery, initially through Norsk Agip and later Eni Norge, which celebrated its 50th anniversary in 2019.
We continue to develop Vår Energi’s NCS position and leverage our diversified and robust field portfolio to increase cost– and CO2 efficient production of oil and gas and generate long-term value for our stakeholders. This includes the lifetime extension of the Balder and Ringhorne fields towards 2045 – providing a life-span of 80 years for PL 001, and new developments such as Johan Castberg as part of the Barents Sea hub.
These projects reflect our shareholders and the industry’s long-term business perspective.