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 the Norwegian society.
Vår Energi 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).
With operated oil and gas production across the shelf, we have a best practice operating organisation with over 50 years’ NCS experience.
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.
We plan to extend the lifetime of the Balder and Ringhorne fields towards 2045 – providing a life span of 80 years for
PL 001. The project reflects our shareholders and the 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.