News archive

30 March 2023

Annual report and Sustainability report 2022

Vår Energi presents annual report and sustainability report for 2022, a year which reaffirmed the importance of the Norwegian continental shelf as a reliable supplier of energy to Europe. Read More

Photo of Goliat platform from helicopter

2 March 2023

Confirms oil discovery near Goliat in the Barents Sea

Vår Energi ASA confirms discovery of oil in the operated 7122/8-1S Countach well in production licence PL229 (Goliat), northwest of Hammerfest, including updated volume estimates. Read More

16 February 2023

Q4 2022 results and Capital Markets Update

Vår Energi today reports financial results for the fourth quarter and full year 2022. The Company is also hosting its first capital markets update (CMU) to present its strategy for growth and long-term value creation founded on a de-risked path to more than 50% production increase by end-2025, sustained high… Read More

Oil platform in calm sea. Cloudy sky. Mountains in a distance. Photo.

The Goliat platform in the Barents Sea.

9 February 2023

New oil discovery in the Barents Sea

 Vår Energi confirms the discovery of oil in the operated 7122/8-1S Countach well in PL229 (Goliat), north-west of Hammerfest. Read More

Illustration of Barents Blue concept in Hammerfest

Illustration: Horisont Energi

1 February 2023

Vår Energi withdraws from Barents Blue

Horisont Energi enters into partnership with Fertiberia to join the Barents Blue project. Simultaneously Vår Energi and Equinor withdraw from the projectas the cooperation agreement expires on 31th January 2023. Read More

10 January 2023

Vår Energi awarded 12 new NCS licenses

Vår Energi is awarded 12 new production licenses on the Norwegian Continental Shelf (NCS), of which five as operator, in the 2022 Awards in Predefined Areas (APA) covering mature areas. Read More

The Goliat platform in the Barents Sea.

23 December 2022

Celebrates Christmas with the largest discovery of the year

Vår Energi ASA confirms discovery of gas in the Vår Energi operated 7122/9-1 T2 (Lupa) well in the Goliat area, Barents Sea. Read More

EVP Ingrid Sølvberg in front of the reception desk at the Vår Energi office in Forus.

Executive Vice President (EVP) for Technology, Drilling and Subsurface, Ingrid Sølvberg.

21 December 2022

Sølvberg on board

Ingrid Sølvberg has her first day of work for Vår Energi this week. She joins the executive management team, and will head up the department for technology, drilling and subsurface. Read More

14 December 2022

Vår Energi ASA holds first Capital Markets Update

Vår Energi ASA is pleased to invite investors, analysts and other stakeholders to a Capital Markets Update on 16 February 2023 at 10.00 to 15.00 (CET) in connection with the publication of the fourth quarter and full year results for 2022. Read More

Photo: Ukraine Red Cross

10 December 2022

New donation to the Red Cross

Vår Energi marks the fourth-year anniversary 10 December by repeating the company's support to the Red Cross, and a donation of one million kroner to their humanitarian work in Ukraine. Read More

Illustration: Equinor

6 December 2022

Strengthening production in the Norwegian Sea

Vår Energi ASA and partners will develop the Verdande field to secure oil volumes which will extend the lifetime of the production vessel Norne in the Norwegian Sea. On behalf of the licence partners, the operator submitted Plan for development and operation (PDO) to the Ministry of Petroleum and Energy today. Read More

Floatel Superior connected to the Balder FPU on the Balder field

Floatel Superior connected to Balder FPU during the High Activity Period in 2021.

30 November 2022

Contract award to Floatel International

The lifetime extension program for North Sea production vessel Balder FPU continues. Vår Energi repeats the 2021 success and secures Floatel Superior for the 2023 High Activity Period (HAP). Read More

26 October 2022

New catering contract ensures local sourcing and reduces emissions

Vår Energi ASA awards new offshore catering contract to ESS Support Services AS for five years. Read More

Offshore on board the Goliat platform looking at an oil tanker

25 October 2022

Vår Energi reports third quarter 2022 results

Vår Energi ASA reported USD 2 526 million in total income for the third quarter of 2022, EBIT was USD 1 454 million and cash flow from operations (CFFO) was USD 1 503 million in the quarter. Read More

5 October 2022

New executive on board

Atle Reinseth has his first day at work for Vår Energi this week. Atle joins the executive management team, with responsibility for supplier collaboration and projects. Read More

Photo of Jotun FPSO in dry dock at the Rosenberg yard

19 September 2022

Update on Balder X project

Vår Energi ASA today provided an update on the progress for the Balder X development and a revised cost estimate which reflect increased scope of work, the continued impact from global supply chain challenges, Covid-19 and schedule change. The Company's production target of more than 350,000 boed by the end of 2025 is unaffected. Read More

Photo of Bjørn Otto Sverdrup and Torger Rød

JOINING FORCES: Chair of the Executive Committee of the Oil and Gas Climate Initiative (OGCI), Bjørn Otto Sverdrup and Vår Energi CEO, Torger Rød.

31 August 2022

Accelerating efforts to reduce methane emissions

Vår Energi joins global initiative to reduce methane emissions from operations. Read More

15 August 2022

Vår Energi increases acreage positions in the south

Vår Energi increases acreage positions and takes new operatorship in the Balder area through several transactions. Read More

Goliat platform in sunset. Vessel beside the platform. Photo.

1 July 2022

New contract for Oss-nor in Hammerfest

Vår Energi ASA awards Hammerfest based Oss-nor a framework agreement for valve services. Read More

STRATEGIC PARTNERS: Odd Strømsnes (CEO Havfram), Luca Giommi (CFO Saipem Drilling Norway), Torger Rød ( CEO, Vår Energi) and Vigleik Sexe (SVP Subsea Norway and Africa, Aker Solutions).

30 June 2022

Vår Energi enters strategic supplier partnership

Vår Energi ASA enters a strategic partnership with Aker Solutions AS, Havfram AS and Saipem S.A for SPS/SURF deliveries, in preparation for record high activity level on the Norwegian Continental Shelf (NCS). Read More

21 June 2022

New organisational structure and management team

Vår Energi ASA is preparing for future growth and today announces a new organizational structure and management team. Read More

Drilling rig Transocean Barents offshore.

The Ormen Lange Deep well was drilled by Transocean Barents. Illustration: Transocean.

15 June 2022

Dry well in the Norwegian Sea

Vår Energi confirms drilling operations on the Ormen Lange Deep well in PL209 has been concluded. Read More

Drilling rig Transocean Enabler offshore

Drilling rig Transocean Enabler. Photo: Transocean.

9 June 2022

Oil and gas discovery in the Barents Sea

Vår Energi confirms discovery of oil and gas in the Equinor operated Skavl Stø exploration well in the Johan Castberg area. Read More

gathering of people together with the Norwegian Minister of Petroleum and Energy

From left: Tom Elseth (Equinor), Arild Stavnem (Petoro), Gunn Gadeholt (Spirit Energy), Geir Tungesvik (Equinor), Terje Aasland (Minister of Petroleum and Energy) and Ørjan Jentoft (Vår Energi). Photo: Equinor

25 May 2022

New development project in the Norwegian Sea

Vår Energi and partners invests NOK 9 billion in the development of Halten East in the Norwegian Sea. The plan for development and operations was submitted to the Minister of Petroleum and Energy today. Read More

Illustration of the Johan Castberg field.

Johan Castberg field in the Barents Sea. Illustration: Equinor

25 May 2022

Oil discovery in the Barents Sea

Vår Energi confirms discovery of oil in the Equinor operated Snøfonn Nord exploration well in the Johan Castberg area. Read More

Minister of Petroleum and Energy together with the Eldfisk North partnership

STRONG TEAM: From left Kristin Kragseth (Petoro), Steinar Våge (ConocoPhillips), Terje Aasland (Minister of Petroleum and Energy), Henning Eide (Totalenergies), Ørjan Jentoft (Vår Energi) and Jan-Arne Johansen (ConocoPhillips). Photo: Vår Energi ASA.

9 May 2022

Targeting additional resources in the Eldfisk field

Vår Energi and the license partners submits Plan for Development and Operation (PDO) for the Eldfisk North project. Read More

Illustration: Horisont Energi

5 April 2022

Vår Energi awarded carbon storage license in the Barents Sea

Vår Energi has been awarded the Polaris CO2 storage license in the Barents Sea, together with its partners Equinor (operator) and Horisont Energi. Read More

Worker in orange coverall. Sparks from a grinder. Photo.

RIPLE EFFECTS: Vår Energi activity creates local jobs.

17 March 2022

Vår Energi creates activity and thousands of local jobs

Value creation that takes place offshore has large, positive ripple effects on local communities, shows recent study. Read More

28 February 2022

Donation to the Red Cross' work in Ukraine

As a token of their support, Vår Energi has donated one million NOK to the Red Cross and their humanitarian work in Ukraine. Read More

4 February 2022

Vår Energi and Folkehallene enter into long-term cooperation

Vår Energi and Folkehallene join forces on a major investment to strengthen activities for children and young people in the Stavanger region. The ambition is improved public health, social development and coping skills and reduced exclusion. Read More

WIN-WIN: VP Procurement & Contracts Annethe Gjerde believes collaboration will ensure increased efficiency and environmental benefits.

26 January 2022

Building strategic cooperation between suppliers

Vår Energi takes action to strengthen supplier cooperation in new contract on fabrication and installation of subsea equipment. The new collaboration model will ensure increased efficiency and environmental benefits. Read More

Offshore oil platform in calm sea. Photo.

18 January 2022

Vår Energi awarded 10 new NCS licenses

Vår Energi, a leading independent upstream oil and gas company on the Norwegian Continental Shelf (NCS), is pleased to announce the award of 10 new production licenses, five of which as operator, in the 2021 Awards in Predefined Areas (APA) covering mature areas on the NCS. Read More

Offshore workers on offshore helicopter deck. photo

17 January 2022

Vår Energi and Equinor cooperating on North Sea logistics

Vår Energi and Equinor recently commenced a five-year helicopter-sharing agreement in the North Sea to reduce costs and environmental footprint of crew transport. Read More

Tone Rognstad sitting on a green chair at a brown table. Photo.

11 January 2022

Tone Rognstad joins Vår Energi

Vår Energi is pleased to announce that Tone Rognstad has joined the executive management team as VP People & Organization. Read More

The Goliat platform in the Barents Sea.

10 January 2022

Vår Energi receives an indicative Corporate ESG Assessment from Sustainalytics

Vår Energi, a leading oil and gas producer on the Norwegian continental shelf, is pleased to announce that it has received an indicative Corporate Environmental, Social and Governance (ESG) Assessment from Sustainalytics, a globally recognized ESG research, ratings and data firm. Read More

Research & Development Manager in Vår Energi, Gjertrud Halset.

16 December 2021

Vår Energi seeks to reduce seismic environmental footprint

Vår Energi enters joint industry project to develop a more environmentally friendly method for seismic data collection. Read More

Ammonium factory Hammerfest. Illustration.

10 December 2021

Vår Energi enters the Barents Sea Polaris CO2 storage joint partnership

Vår Energi has entered into a cooperation agreement with Equinor and Horisont Energi to develop the Polaris CO2 transportation and storage project in the Barents Sea. As part of the agreement Equinor takes over the operator role of the project. Read More

3 December 2021

Torger Rød new NOROG board member

Vår Energi CEO Torger Rød is appointed new board member of the Norwegian Oil and Gas Association (NOROG). NOROG represents one of Norway’s most important industries and includes the companies that operate on the Norwegian continental shelf. I look forward to start in my new role, and on behalf of… Read More

23 November 2021

Framework contract to IKM Elektro

Vår Energi enters into an agreement with IKM Elektro for support to all own-operated facilities on the Norwegian continental shelf (NCS). The agreement covers inspection, service and maintenance of electrical equipment and rotating machines, and will optimize daily operations and maintenance work offshore. Read More

Flowers in the mountains. Sunrise. Photo.

11 November 2021

Sharpens climate targets

Vår Energi sets new, ambitious climate goals – aims to be climate neutral by 2030. Read More

1 November 2021

Vår Energi announces successful refinancing

On 1 November 2021 Vår Energi AS (“Vår Energi”) announced the refinancing of its existing Reserved Based Lending facility with a USD 6 billion unsecured corporate credit facility provided in equal proportions by 12 international banks. Vår Energi also announced that it has obtained a BBB credit rating from S&P and Baa3 from Moody’s. Vår Energi is a… Read More

Photo: Vår Energi AS

13 October 2021

Oil & Gas discovery in the Barents Sea

Vår Energi confirms discovery of oil and gas in the Rødhette exploration well in the Goliat area in the Southern Barents Sea. Read More

Research & Development Manager in Vår Energi, Gjertrud Halset.

13 September 2021

New step towards zero emissions

Vår Energi joins research project aimed at optimizing the CO2 value chain. The target is cutting costs by 70 percent for new carbon storage facilities. Read More

9 September 2021

Vår Energi enters cooperation agreement for production of carbon neutral ammonia in Hammerfest

Vår Energi is partnering with Equinor and Horisont Energi to explore the possibilities for producing blue ammonia from natural gas, with CO2 capture and storage, in Hammerfest. Read More

28 June 2021

Contracts to local suppliers

Vår Energi awards long-term contracts on HSSEQ services to local suppliers. Read More

21 June 2021

Significant discovery in the North Sea

Vår Energi confirms discovery of oil and gas in the King and Prince exploration wells in the Balder area in the Southern North Sea. Read More

Foto: Equinor/Einar Aslaksen

2 June 2021

Vår Energi goes local

Vår Energi selects local firm Bæivi for Hammerfest office catering services the next three years. Read More

Torger Rød in front of the Vår Eneri reception desk.Photo

1 June 2021

Torger Rød takes over as CEO for Vår Energi

Today Torger Rød takes over as head of Vår Energi, following the announcement of his appointment in January 2021. Read More

7 May 2021

Inspection services contract to DNV

Vår Energi awards three-year inspection service contract for the operated offshore assets to DNV. Read More

Drilling tower on platform seen from below. Photo.

19 January 2021

10 new NCS licenses for Vår Energi

Vår Energi AS is awarded 10 new licenses (5 as operator) on the Norwegian Continental Shelf during the Awards in Predefined Areas for 2020. Read More

Torger Rød

5 January 2021

Torger Rød appointed CEO of Vår Energi

Vår Energi is pleased to announce the appointment of Torger Rød as the company’s new CEO.  Read More

10 December 2020

Kristin Kragseth to become CEO of Petoro

Kristin Kragseth has been appointed new CEO for Petoro, leaving Vår Energi after almost 30 years in the company and its predecessors. She will accede her new position once her replacement in Vår Energi is in place, no later than June 1st 2021. Read More

9 December 2020

New contract for CHC

Vår Energi awards CHC Helicopter Service AS contract for personnel transportation from Stavanger airport, Sola. Read More

Olympic Energy

9 November 2020

Choosing greener supply vessels

Vår Energi acquires Olympic Energy and Troms Sirius for service in the North Sea. Read More

Offshore worker climbing up ladder from sea level. Photo

28 October 2020

Vår Energi enters into 12 frame agreements

Vår Energi has signed frame agreements with a total of 12 Norwegian suppliers of services within a number of technical and administrative disciplines. The agreements may contribute to significant employment. Read More

16 July 2020

Fiscal relief package triggers drilling activities

Vår Energi resumes drilling activities in the Barents Sea and the North Sea, which this spring were postponed due to the corona pandemic and oil price collapse. The decision has been made possible by the temporary changes in the petroleum tax, adopted by the Norwegian parliament in June. This triggers a positive employment effect in the rig market. Read More

Students holding scolarship checks. Photo.

Foto: Universitetet i Stavanger / Kjersti Riiber

19 June 2020

Scholarships to inspire

Vår Energi and the University of Stavanger (UiS) have teamed up to inspire students to excel within their studies. This week, five UiS students were awarded scholarships of a total of 200,000 NOK. Read More

Jotun FPSO

15 June 2020

Kicks off life extension project in the North Sea

Jotun FPSO has been producing oil from the Jotun field in the North Sea since 1999. The vessel is now being taken ashore for upgrading at Rosenberg Worley in Stavanger. The event kicks off the life extension of the Balder Area in the North Sea. Read More

12 June 2020

We aim for a sustainable future

Vår Energi believes in the future of our industry and we strive to be a responsible actor on the NCS. Read about our initiatives in our Sustainability Report for 2019. Read More

20 April 2020

New VP Field Development & Projects

Bjørn Thore Ribesen is appointed VP Field Development & Projects in Vår Energi. Read More

10 February 2020

Vår Energi moves to LNG-powered shuttle tankers

Vår Energi secures access to two new LNG-powered shuttle tankers for crude oil shuttling in the North Sea and the Barents Sea. Read More

14 January 2020

17 new NCS licenses for Vår Energi

Vår Energi AS is awarded 17 new licenses (7 as operator) on the Norwegian Continental Shelf during the Awards in Predefined Areas for 2019. Read More

21 December 2019

Rig contract to Seadrill

Vår Energi AS awards rig contract to Seadrill Norway Operations AS, a Seadrill Ltd subsidiary, and secures the West Phoenix drilling rig for work on the Balder Future re-development project in the North Sea.  Read More

17 December 2019

Plan to extend production from the Balder Area in the North Sea to 2045

Vår Energi AS and license partner Mime Petroleum AS plan to extend the Balder and Ringhorne production lifetime to 2045. The Balder Future project – revised plan for Development and Operations for Balder and Ringhorne, was submitted to the Norwegian Ministry of Petroleum and Energy today. Read More

10 December 2019

Celebrating anniversary with completion of the ExxonMobil acquisition

Vår Energi celebrates one year as a company and strengthens NCS position as the acquisition of ExxonMobil’s upstream business in Norway is completed. Read More

3 December 2019

Vår Energi teams up with Capgemini

Vår Energi signs partnership agreement with Capgemini to accelerate digital transformation. Read More

26 November 2019

Modifications and maintenance contracts awarded

Vår Energi has signed frame agreements with Apply and Aker Solutions for modifications and maintenance support for the company’s operated assets. Read More

Three people standing at a table signing av contract. Photo.

Tom Huuse (Director Norway and Denmark BHGE), Krsitin Kragseth (CEO Vår Energi) and Kevin Murphy (CEO Ocean Installer).

27 September 2019

Vår Energi awards Balder X subsea contract to industry consortium

Vår Energi AS has awarded a contract covering engineering, procurement, construction and instalment (EPCI) of subsea systems (SPS/SURF) for the Balder X project to a consortium of the companies Baker Hughes, a GE company (BHGE) and Ocean Installer AS. Read More

26 September 2019

Vår Energi acquires ExxonMobil’s upstream assets in Norway

Vår Energi AS, owned by Eni and HitecVision, has today signed an agreement with ExxonMobil to acquire its upstream assets in Norway. The transaction includes ownership interests in more than 20 producing fields. Read More

Kristin Kragseth and Jan Narvestad signing contract. Photo

(Photo: Rosenberg) Kristin Kragseth (Vår Energi) and Jan Narvestad (Rosenberg)

15 August 2019

Major contract award to Rosenberg Worley AS

Vår Energi AS has awarded an EPCI (Engineering, Procurement, Construction and Installation) contract to Rosenberg Worley AS in Stavanger, Norway. The contract encompasses the lifetime extension of the Jotun floating production storage and offloading vessel (FPSO), enabling oil and gas production from the Balder field until 2045. Read More

1 August 2019

Vår Energi has completed field divestment

Vår Energi AS has finalised the divestment of 10 percent ownership interests in six Vår Energi-operated licenses across the Balder and Ringhorne fields in the North Sea to Mime Petroleum AS. Read More

5 June 2019

Doom-metal band wins this year's Arctic Talent

The Tromsø based band Heave Blood and Die has been named this year's Arctic Talent. The prize is North Norway's largest music award and is granted annually by Vår Energi in collaboration with the Varanger Festival. Read More

1 May 2019

2,000 applications for 24 vacancies in Vår Energi

Vår Energi AS has received almost 2,000 applications for 24 vacancies in April, and over 600 applications for 25 summer jobs. “This exceeds our expectations by far, and we are happy to see that Vår Energi and the oil and gas industry are considered attractive by applicants”, says Charlotte Saunders, VP Corporate Services. Read More

4 April 2019

Strong results for Vår Energi in 2018

Vår Energi AS’ annual report is ready and illustrates a strong turnover of above 29 billion NOK in 2018, with an average production of above 169 000 barrels of oil equivalent per day (boepd). Read More

Ringhorne

1 April 2019

New partner in the Balder and Ringhorne fields

Vår Energi AS has entered into an agreement with Mime Petroleum AS to divest 10 percent ownership interests in a total of six licenses across the Balder and Ringhorne fields on the Norwegian continental shelf (NCS). Read More

Goliat FPSO and the supply vessel Stril Barents at the field. February 2016.

7 March 2019

Safer Barents Sea environment after Goliat network upgrade

Vår Energi AS has entered into an agreement with Telenor Maritime to equip the Goliat field in the Barents Sea with 2G and 4G networks, improving safety and emergency response capability in the region. Read More

Illustration: NCCS

15 February 2019

Vår Energi invests in carbon capture and storage research

Vår Energi has entered into a partnership with the Norwegian Carbon Capture & Storage Research Centre (NCCS) to enable fast track CCS technology development and deployment. The agreement has a total value of 30 million NOK over a six-year period and is part of an industry-driven and science-based innovation effort. Read More

11 February 2019

Vår Energi selects office for the future at Forus

Vår Energi AS is investing in a new future headquarter at Forus, Sandnes. “We will create an office for the next generation employees”, says Kristin F. Kragseth, CEO in Vår Energi. Read More

Foto: Rystad Energy

7 February 2019

Business developer of the year awarded to Vår Energi

Rystad Energy has through its annual event awarded Vår Energi AS the Golden Crown as business developer of the year 2019. Read More

25 January 2019

Battery hybrid Stril Barents in the Barents Sea: Supply vessel with shore power cuts CO2 emissions for Goliat

In November 2018, Vår Energi (formerly Eni Norge) and Simon Møkster Shipping signed an agreement to upgrade the supply vessel Stril Barents in order to reduce CO2 emissions. The upgrade involves the installation of shore power connection, combined with a new battery solution for energy storage on board. Read More

15 January 2019

APA 2018: 4 operatorships and 9 partnerships awarded to Vår Energi

Vår Energi AS announces that the company has been awarded a total of 13 licenses in the Awards in Predefined Areas 2018 (APA) by the Ministry of Petroleum and Energy (MPE) today. Read More

3 January 2019

Successful appraisal well in the Goliat licence in the Barents Sea

The resource estimates on Goliat continues to increase. Vår Energi AS has together with license partner Equinor completed an appraisal in PL 229 in the Barents Sea through the successful drilling of the 7122/7-7 S Goliat West appraisal well. Read More

Jotun FPSO

20 December 2018

Vår Energi awards Jotun FEED contract to Aker Solutions

Vår Energi is progressing the redevelopment of the Balder and Ringhorne area, and a FEED contract for the Jotun FPSO life extension has now been signed. In total, about 20 billion NOK will be invested in the redevelopment of the area, which includes the first NCS license area, PL 001 from 1965. Read More

10 December 2018

Vår Energi Established As Norway’s New, Leading E&P Company

Vår Energi is officially established today, 10. December 2018, as Norway’s largest independent E&P company with a net daily production of more than 170,000 barrels of oil equivalent (boe) in 2018. Vår Energi is dedicated to exploring, developing and producing solely on the Norwegian continental shelf (NCS), with planned investments of 65 billion NOK over the next years. A key project is extending the life of Norway’s oldest license area – the Balder field – towards 2045, giving the first license on the NCS, PL 001, a life span of 80 years. Read More