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NO

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.

“We are very pleased that the results of the APA 2018 are fully aligned with our strategy to strengthen our position as the largest independent E&P company on the Norwegian continental shelf (NCS)”, Kristin F. Kragseth, CEO in Vår Energi said.

The company has been granted the following 4 operatorships and 9 partnerships:

North Sea:

PL 985 – operator

PL 980 – operator

PL 987

PL 988

PL 984

PL 978

PL 977

Norwegian Sea:

PL 1010

PL 1001

PL 1005

PL 796 B

Barents Sea:

PL 1025 S – operator

PL 229 E – operator

Vår Energi has reserves and resources of more than 1,250 billion barrels of oil equivalent (Mboe) on the NCS; one of our highest business priorities is the replacement of resources and reserves and exploration is a key part of the company’s future organic business growth.

“Vår Energi has working interests in many of the key discoveries made on the NCS in recent years. I am happy that our thorough APA 2018 application has been rewarded, and the result of the APA 2018 will provide us with many exciting new opportunities”, Denis Palermo, VP Exploration in Vår Energi pointed out.

The MPE awarded a total of 83 licenses to 33 different companies. 37 of the licenses are located in the North Sea, 32 in the Norwegian Sea and 14 in the Barents Sea. 21 companies were offered operatorships.

More information available on the Ministry of Petroleum and Energy’s website.

A full overview of Vår Energi’s NCS operatorships and partnerships is available in our License Map.