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Vår Energi / Our business / Commercial and business development

Commercial and business development

Crude oil sale

Vår Energi’s crude oil is offloaded on board tankers at the following offshore locations:  Goliat, Balder and Jotun,  Åsgard, Norne, Heidrun and Snorre. The Ringhorne crude oil is transported to the Balder FPSO.

Crude oil from the Ekofisk field is transported through Norpipe Oil AS to an onshore terminal in Teesside, and thereafter to final markets with tankers. Crude oil from the Brage field is lifted from the Sture terminal.

Crude oil is being traded in cooperation with Eni Trading & Shipping (ETS) in London.

 

Gas sale

Natural Gas Liquids (NGL) is a common name for ethane, propane, butane, isobutan and nafta. The gas is extracted from rich gas at the onshore gas refinery Kårstø in Norway or separated from the oil flow at the onshore terminal Teeside in United Kingdom. The products are further transported to the markets by tankers.

Vår Energi is responsible for gas sales from our own portfolio. Gas transport requires daily follow-up. Our headquarters in the Stavanger region is actively involved in the purchase and sale of gas transport capacity, both in short and long term perspective.

Gassco is the operator of the gas transport infrastructure on the Norwegian continental shelf (NCS). Read more on the website www.gassco.no

Business development

A business plan for the company is jointly developed and sanctioned by the shareholders; Italy based energy company Eni (69.6 percent) and Norway based leading private equity investor HitecVision (30.4 percent).

The plan is to develop ten fields over the next five years on the Norwegian continental shelf (NCS), which requires investments of NOK 65 billion. This will support Vår Energi’s position as the largest independent E&P company offshore Norway.

In cooperation with Vår Energi’s shareholders, our business development department will continue to identify new opportunities to deliver growth according to the business plan.