Vår Energi ASA completes the sale of its Norne area field interests to DNO Norge AS for a fixed after-tax consideration of USD 51 million.

The Norne area is located in the Norwegian Sea and the transaction include interests in the Norne (6.9%), Urd (11.5%), Skuld (11.5%) and Marulk (20%) fields and the Verdande (10.49%) development project. 

As part of the transaction DNO Norge has assigned to Vår Energi their 22.62% interest in the Ringhorne East unit, taking Vår Energi’s interest to 92.6%. 

The transaction with DNO Norge is in line with Vår Energi’s stated strategy to dispose of non-core assets to high grade the portfolio, supporting further growth and long-term value creation in the Company’s core hub areas. The assigned assets are late life, and the transaction will improve Vår Energi’s unit operating costs and emissions intensity outlook. DNO will assume the associated decommissioning liabilities for the Norne area field interests. 

Vår Energi’s net production from the Norne area fields was approximately three thousand barrels of oil equivalent per day the first half of 2024. Net remaining proved plus probable (2P) reserves for the fields is 7 million barrels of oil equivalent at year end 2023. 

 

Contact 

Investor relations  
Ida Marie Fjellheim, VP Investor Relations
+47 90509291
ida.fjellheim@varenergi.no 

Stian Seipæjærvi, Sr. Investor Relations Analyst
+47 90954060
stian.salmi.seipaejaervi@varenergi.no 

 

Media relations 
Andreas Wulff, VP Public Affairs
+47 92616759
andreas.wulff@varenergi.no