Vår Energi ASA (OSE: VAR, “the Company”) is awarded 14 new production licences on the Norwegian Continental Shelf (NCS), of which 6 are as operator, in the 2025 Awards in Predefined Areas (APA) covering mature areas.

Vår Energi is a major oil and gas supplier to the European market and continued access to new exploration areas is the foundation for further growth and value creation.

Vår Energi is offered licences in the North Sea, the Norwegian Sea and the Barents Sea – most of the licences are close to existing infrastructure, supporting the company hub strategy. The awards were announced today by the Norwegian Ministry of Energy.

Torger Rød, Vår Energi COO:

“Being awarded licences across all our key areas on the Norwegian Continental Shelf in accordance with our priorities is a strong endorsement of Vår Energi’s role as a responsible and trusted operator. Continued access to new exploration acreage is essential to maintaining our long-term position as a reliable supplier of energy in an increasingly uncertain world. We are building a diversified portfolio and further strengthening our position as a leading operator. All awarded licences support our long-term growth strategy and ensure continuity in maturing opportunities and creating value”.

Vår Energi is offered 4 licences in the North Sea, 6 licences in the Norwegian Sea and 4 licences in the Barents Sea.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian Continental Shelf (NCS).