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NO

21 June 2022

Vår Energi: Preparing for future growth with a new organisational structure and management team

Sandnes, Norway, 21 June 2022: Vår Energi ASA (OSE: VAR) today announces a new organisational structure and management team.

“Vår Energi has set a goal to become a net producer of 350,000 barrels of oil and gas per day by the end of 2025, focusing on safe, more efficient, and sustainable operations. We are now re-shaping the organisation into what we believe is the right one to achieve our targets, where the new simplified structure and strengthened management team is a key enabler”, says CEO Torger Rød.

Two new business areas will be established to provide expertise, projects, and products across the company. Vår Energi is gathering professions to ensure people development, governance and to prioritize competence and capacity to realise the potential.

In the new structure, Technology, Drilling and Subsurface forms one new business area allowing the accelerated use of new technological solutions and digitalisation of the company. Project Development and Supply Chain Management will be responsible for our project portfolio and for optimisation and standardisation of Vår Energi’s supply chain. ​

As part of the reorganization Ingrid Sølvberg and Atle Reinseth will be joining the management team, responsible for Technology, Drilling and Subsurface and Project Development and Supply Chain Management respectively.

Ingrid Sølvberg (b. 1970) arrives from the role as Director general in the Norwegian Petroleum Directorate (NPD). Prior to this, she has held significant leadership positions in NPD, Centrica and Statoil, now Equinor.

Atle Reinseth (b. 1966) comes from Equinor and the position as VP Shaping, Improvement and Analyses in project development. His experience includes key leadership roles in both procurement and project development in Equinor and Acergy, now part of Subsea7.

“We very much look forward to welcoming Sølvberg and Reinseth. Their vast experience and competence will further strengthen our organisational capabilities”, says Rød.

The current organisational structure and management team will remain in place until the new structure is implemented, which is planned completed within the fourth quarter this year.  

“It’s all about people, competence and preparing for the future. The changes we have now announced will enable our organisation to work more easily and efficiently, and thereby increase our overall productivity. Vår Energi, with 950 highly competent employees, is a right-sized organisation. By improving how we work together we create an even stronger company that can seize new opportunities”, says Rød.

The organisational changes reflect a process which includes valuable input from Vår Energi’s employees and in consultation with the company’s labor unions and work force representatives. The changes are designed around the company’s strengths, including a highly competent and experienced workforce, a diversified Norwegian Continental Shelf (NCS) portfolio and the company’s growth potential.

“We are committed to delivering a better future. Vår Energi will continue to grow and invest on the NCS, securing a stable supply of energy. Our goal is to be the safest operator, a partner of choice and an ESG leader on the NCS, aiming for zero injuries and net zero emissions from our operations by 2030”, Rød points out.

Vår Energi's management team from Q4 2022:

Contact information: 

Andreas Wulff, Communication Manager 

Tel: +47 92616759 

Email: andreas.wulff@varenergi.no 

About Vår Energi: 

Vår Energi is a leading independent upstream oil and gas company on the Norwegian Continental Shelf (NCS). We are committed to delivering a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record.

Our ambition is to be the safest operator on the NCS, the partner of choice, an ESG leader and a net-zero producer (Scope 1 and 2) by 2030.

Vår Energi has more than 950 employees and equity stakes in 36 fields producing net 246,000 boe per day in 2021. We have our headquarters outside Stavanger, Norway, with offices in Oslo and Hammerfest.