Vår Energi awarded 10 new NCS licenses

Vår Energi, a leading independent upstream oil and gas company on the Norwegian Continental Shelf (NCS), is pleased to announce the award of 10 new production licenses, five of which as operator, in the 2021 Awards in Predefined Areas (APA) covering mature areas on the NCS.

The licenses were awarded today by the Norwegian Ministry of Petroleum and Energy as part of the annual APA exploration licence award.

The new licences have a good strategic fit with our existing portfolio, strengthening our presence in key hubs while also offering additional attractive opportunities to potentially expand into new prospective sectors on the NCS,” says Torger Rød, the CEO of Vår Energi.

“The annual APA rounds are important to the industry and supportive of our growth ambitions by providing access to areas near existing infrastructure enabling efficient exploration and field development”.

Vår Energi AS has been granted the following new licenses:

• North Sea: PL 1043b (op), PL 1139
• Norwegian Sea: PL 1154 (op), PL 586B, PL 091F, PL 1163
• Barents Sea: PL 1168 (op), PL 229H (op), PL 1025SB (op), PL 1169

(op) = operator

Full overview of Vår Energi’s NCS operatorships and partnerships.

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

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). We are committed to deliver a better future through responsible 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 900 employees and equity stakes in 36 fields producing net 247,000 boe per day in the third quarter of 2021. Headquartered outside Stavanger, Norway, we are owned by the energy company Eni (69.85%) and the energy-focused private equity investor HitecVision (30.15%).

 For more information, please contact:

Andreas Wulff, Communication Manager
Mobile: +47 926 16 759
Email: andreas.wulff@varenergi.no

This announcement may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Vår Energi AS (“Vår Energi”) about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections. Vår Energi undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement.