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Delivering a better future

Vår Energi continually identifies and assesses the actual and potential impacts on sustainable development from its business and activities, both as part of its day-to-day activities, while engaging with relevant stakeholders and experts.

Given the importance of access to energy to support sustainable development and the significant greenhouse gas emissions associated with the oil and gas industry, SDG 13: Climate Action and SDG 7: Affordable and Clean Energy, are particularly relevant for Vår Energi as a pure-play oil and gas producer.  

All Vår Energi oil and gas operations are carried out offshore on the NCS, with a potential for negative impacts related to SDG 14: Life below water. Vår Energi is committed to conserve biodiversity at all operational sites and continuously strives to minimise negative impacts.

Work-related hazards with the potential of injuries and illness may be associated with Vår Energi’s activities. To manage potential negative impacts on SDG 3: Good health and well-being, Vår Energi works systematically to manage these risks and to conduct business in a manner that protects the health and safety of its employees and all others involved. 

quote_left_fill Ensuring access to energy for all while transitioning toward a low-carbon economy is a major challenge both for Vår Energi and for society at large.

Mannlig ansatt med kollegaer i bakgrunnenVår Energi is a significant employer in the areas where it operates, with impacts on SDGs 5 Gender equality, and SDG 10 Reduced inequalities. Diversity, equality, and inclusion are integral parts of creating successful teams and creating a high-performing organisation.  

Vår Energi believes that its activities should benefit the communities where it operates, contributing to SDG 8 Decent work and economic growth. This means engaging in creating local ripple effects in terms of industrial development and employment, as well as supporting skills development and cultural activities. The vitally important natural resources Vår Energi manages generate substantial revenues for its owners and Norwegian society.  

The activities may also have an impact on human rights issues through the entire value chain. Ultimately, how the company manages these responsibilities has a bearing on SDG 16 Peace, justice, and strong institutions. Vår Energi’s Code of Ethics highlights the importance of fairness, transparency, honesty, and integrity in how the company conducts its business, relationships with authorities and corporate governance.  

To support the company ambition of being an ESG leader, Vår Energi has established a sustainability framework with strategic focus areas that cover the company’s main impacts.

quote_left_fill The world needs energy, and I believe that Norway will remain the cleanest, most reliable and attractive place for oil and gas production for decades to come. But only those who manage to be smart and responsible will grow and improve. Vår Energi is both.

A safe and responsible operator

Responsible operations are key for our licence to operate and we aim to be the safest operator on the NCS. We have a good trend on improving our safety performance.

In 2023, we showed about 50% improvement across a range of safety metrics.  Also, we had zero serious incidents, zero process safety events and no significant environmental incidents in 2023. 

We’re also getting recognition for our ESG leadership: 

  • Being a “Top Ranked Company” by Sustainalytics 
  • A+ ranking with Position Green 
  • And a strong ranking on CDP 

Vår Energi is also included in the OBX ESG index as the only E&P company – this includes the 40 companies on the Oslo Stock Exchange with the best ESG ratings.  

Ivar Kvadsheim i Vår Energi sine lokaler

Environmentally friendly oil and gas production?

There are many paths leading to the objective. A more climate- and environmentally friendly 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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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 some of our measures to reduce the emissions from our production.

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Lise Holmen on Goliat in the Barents Sea

– Exciting to be part of the energy transition

Lise Holmen works as a process operator apprentice on the Goliat platform in the Barents Sea. She was inspired to work in the oil and gas industry by the infinite opportunities.

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Sustainability reporting

For the 2023 sustainability reporting, the assessment of material topics has been reviewed and prioritised based on:  

  • Actual and potential impact on UN SDGs  
  • Vår Energi’s Sustainability Policy and other relevant policies and governing documents  
  • Risks identified in the enterprise risk management process  
  • Feedback from sustainability rating agencies  
  • Impacts and topics described in relevant reporting standards and requirements such as the European Sustainability Reporting Standards (ESRS), GRI Oil and Gas Sector Standard, CDP, SASB Oil & Gas Exploration & Production Sustainability Accounting Standard, Greenhouse Gas Protocol and TCFD recommendations on climate-related financial disclosures.  

The 2023 sustainability reporting is prepared in accordance with the GRI Oil and Gas Sector Standard, where it is required to review each topic described in the Sector Standards and determine whether it is a material topic for the organisation.