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Delivering growth and operational excellence

The objective of our search activity is to replace our existing resources and reserves, which are foundational for our future growth. We have working interests in several of the most important findings on the Norwegian Continental Shelf (NCS) in the past years. 

We have set an ambitious target for production growth ambition of above 400 000 barrels per day by end-2025. This will be delivered by a portfolio of sanctioned projects with attractive economics.

Additionally, we focus on what can be controlled an impacted through enhancing performance and competitiveness and deliver operational excellence.


producing fields

213 000

oil barrels equivalent daily (2023)

1 300


Reducing production cost

Vår Energi has a high focus on operational efficiency and is targeting a continued reduction in production costs per barrel

We are targeting reduction of production costs to USD 10 per barrel by end-2025 from USD 14 per barrel in 2023.

We intend to achieve this target through the execution of ongoing projects, including the Balder X project and major partner-operated asset developments like Johan Castberg.

Combined, the sanctioned development portfolio has an average production cost of approximately USD 4 per barrel.

Dronebilde av Goliat.

World-class exploration capabilities

Map of NCS with VE hub areas

We have proven world-class exploration capabilities. Based on Rystad Energi, Vår Energi is at the forefront on the NCS when it comes to the average size of discoveries, lowest exploration cost per barrel discovered and the highest return on exploration spend.

Over the last five years, Vår Energi exploration campaigns achieved over 50% success rate adding around 150 mmboe of contingent resources with an average unit exploration cost of USD 1 per barrel after tax.

Going forward, Vår Energi will maintain the successful exploration strategy with involvement in 16 planned wells in 2024, targeting 150 mmboe of net risked prospective resources..


discovery rate last 5 years


mmboe added last 5 years


exploration wells in 2024

always safe annual wheel for activities

Ambition to be the safest operator

Operational safety is a top priority for us. Our ambition is to be the safest operator on the NCS, with the aim of reducing injury totals to near-zero levels.

Vår Energi collaborates with Equinor, ConocoPhillips and Aker BP on the Always Safe annual wheel. The purpose of Always Safe is to strengthen the industry’s safety behaviour and culture. Through this joint effort we utilise the strengths of standardisation, increasing the impact in the industry with partners, suppliers and contractors.

quote_left_fill We believe Always Safe is a key enabler in becoming the safest operator on the Norwegian Continental Shelf.
Ellen W Hoddell

The safety toolbox

Also, we have has incorporated the nine Life-Saving Rules as stated by the International Association of Oil & Gas producers (IOGP).

These rules provide workers with a simple set of actions to protect themselves and others from incidents and fatalities.

Other ongoing initiatives include MARI (Major Accident Risk Indicator) tracking on operated fields and new digital tools to ensure  technical integrity, support proactiveness, facilitate standardisation of safety initiatives across our operations and ensure  compliance.

Smilende ansatte på Rosenberg

Oil and gas fields operated by Vår Energi


Balder field is located in the North Sea – in the first awarded licence with first search drilling and first oil discovery on the NCS (production licence 001).

The Balder field is developed with a floating production-, storage- and offloading (FPSO) and several subsea production systems. Production started in 1999.

Supply båt og tankskip i produksjon på Balder-feltet


Duva is an oil and gas subsea tie-back development to the Vår Energi-operated Gjøa-platform in the North Sea. It is located 14 km northeast of the Gjøa field at a water depth of 340 metres.  Discovered in 2016, Duva was developed as a fast-track development project in parallel with the Gjøa P1 segment and commenced production in 2021.

Illustration of Duva subsea tieback to Gjøa


Fenja is a subsea development located in the Norwegian Sea. Discovered in 2014, the oil and gas field is connected to the Njord A platform. The 36 km subsea production pipeline connecting field and host is the world’s longest electrically trace-heated pipe-in-pipe.  Production from the Fenja-field commenced in April 2023.


Gjøa is situated in the northern part of the North Sea and is predominantly a gas field. It was discovered in 1989, and production commenced in 2010. The semi-submersible Gjøa production unit is electrified with power from shore and produces at less than half the average carbon intensity of NCS fields. The floating production facility has been designed to act as an area hub.

Gjøa platform offshore


Goliat field is located in the Barent Sea, and is the first producing oil field in the northern areas of the Norwegian Continental Shelf. Goliat was discovered in 2000, and plans for development and operation were approved in 2009. The field is developed with a floating production unit optimised to withstand cold and bad weather. Production started in march 2016.

Goliat-feltet i Barentshavet. Oljefelt med produksjon i det nordligste området på norsk sokkel


Marulk field is located in the Norwegian Sea, and is a subsea gas field 25 kilometres south west of the Norne field. Marulk was discovered in 1992 and plans for development and operations were approved in 2010.

Marulk is connected to the Norne installation and started production in 2012.

Illustrasjon av Marulk-feltet som viser to brønner som kobles til en flytende produksjon, lagring- og lasteenhet.

Ringhorne og Ringhorne Øst

Ringhorne field is located in the North Sea, about nine kilometres north east of Balder FPU.

The field is equipped with a platform which produces and sends oil and gas to Balder FPU for final process, storage and export. The production on Ringhorne started in 2003.

Ringhorne East is equipped with four wells from the Ringhorne field with production starting in 2006. A new drilling campaign from the Ringhorne platform started in 2019 and is still ongoing.

Plattform i Ringhorne-feltet. Produksjon av olje og gass

Crude oil assays

For each crude oil type, there is a commercial assay based on a representative sample of the crude. Crude oil lifted at the Balder field is a mix of Ringhorne, Ringhorne East & Balder. There are two Balder Crude oil analysis done in 2021.

Our measures for sustainable production of energy

Vår Energi is committed to a more sustainable production of energy through minimising our own greenhouse gas emissions. Here are som of our measures to reduce the emissions from our production.

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Ivar Kvadsheim i Vår Energi sine lokaler

Environmentally friendly oil and gas production?

There are many paths leading to the objective. A more sustainable oil extraction is achieved through our own measures and through collaboration with supplier- and value chains.

Sustainability Manager, Ivar Kvadsheim explains.


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Prosessoperatør-lærling, Agnete Svanholm på Goliat-feltet

You get used to the offshore lifestyle pretty quickly!

Process operator apprentice Agnete Svanholm shares her experience as an apprentice with Vår Energi on the Goliat field.

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