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Our story

Our story

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.

In 2016, Goliat became the first oil field in production in the Barents Sea, marking yet another important milestone on the history of the company.

In Vår Energi, we strongly believe in future opportunities for oil and gas production offshore Norway, in balance with a safe and sustainable working environment. We are investing in research and development projects to introduce new low carbon technologies in our ongoing and future activities, which is to find, develop and produce resources. Our main objective is increasing our NCS footprint in a safe and environmentally responsible manner.

Historical timeline

Vår Energi Timeline 1965 Norsk Agip established Norsk Agip etableres 1969 Ekofisk oil discovery Oljefunn på Ekofisk 1977 Norsk Agip approved as operator Norsk Agip godkjennes som operatør 2000 Goliat discovery Funn på Goliat 2003 Acquisition of Fortum Petroleum Oppkjøp av Fortum Petroleum 2003 Norsk Agip and Fortum Petroleum renamed Eni Norge Norsk Agip og Fortum Petroleum bytter navn til Eni Norge 1965 Esso Exoploration awarded PL 001 (Balder license) Esso Exoploration tildeles PL 001 (Balder-lisensen) 1999 Balder and Jotun fields production start-up Oppstart av produksjon på Balder- og Jotun-feltene 2003 Ringhorne field production start-up Oppstart av produksjon på Ringhorne-feltet 2013-2016 3rd Balder drilling campaign successfully completed Den tredje borekampanjen på Balder vellykket gjennomført 2010 Established by HitecVision Core Energy etableres av HitecVision 2011 Acquisition of Brage, Hyme and Snorre fields Oppkjøp av Brage-, Hyme- og Snorre-feltene 2013 Acquisition of Bøyla field Bauge discovery Oppkjøp av Bøyla-feltet Funn på Bauge 1996 Established Rocksource etableres 2014 Fenja discovery Funn på Fenja 2015 Public takeover and renamed by HitecVision Overtakelse og navnebytte 2012 Established by HitecVision Etablert av HitecVision 2013 Acquisition of Bridge Energy Oppkjøp av Bridge Energy 2014 Fenja discovery Funn på Fenja 2016 2016 Three-way merger completed Point Resources established Fusjon av tre selskaper gjennomført Point Resources etableres 2016 Brasse discovery Funn på Brasse 2017 Acquisition of ExxonMobil's operated NCS portfolio Oppkjøp av ExxonMobils operatør-portefølje på norsk sokkel 2018 Vår Energi established Vår Energi etableres
Vår Energi Timeline 1965 1965 2012 2010 1996 2018