Vår Energi is awarded 12 new production licenses on the Norwegian Continental Shelf (NCS), of which five as operator, in the 2022 Awards in Predefined Areas (APA) covering mature areas.

The results were announced today by the Ministry of Petroleum and Energy. Vår Energi is offered licenses in both the North Sea, the Norwegian Sea and the Barents Sea – most of them in areas close to existing infrastructure.

Rune Oldervoll, Vår Energi EVP Exploration & Production is pleased with the results: "We are offered licenses that strengthen our position in important areas. The licenses support our long-term growth strategy and give us continuity in our work to develop opportunities and create value."

Vår Energi CEO Torger Rød underlines the importance of the APA rounds: "Continuous access to new exploration area is the foundation for value creation and further development of the Norwegian Continental Shelf. Stable frame conditions enable efficient exploration and field development. It creates activity for the Norwegian supplier industry as well as ripple effects for our local societies."

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 value driven 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 246,000 boe per day in 2021. We have our headquarters outside Stavanger, Norway, with offices in Oslo and Hammerfest.