Vår Energi ASA (OSE:VAR) has entered into a collaboration agreement with TechnipFMC Norge AS (TechnipFMC) for delivery of subsea projects utilizing its integrated commercial model for engineering, procurement, construction, and installation. The agreement pertains to future subsea developments in the Gjøa area in the North Sea.

Vår Energi has entered into the collaboration agreement on behalf of the licence owners in the Gjøa Nord, Cerisa and Ofelia discoveries and covers integrated execution of both SPS (Subsea Production Systems) and SURF (Subsea Umbilicals, Risers, and Flowlines) work scopes.

COO of Vår Energi, Torger Rød, said:

"We have high expectations for further development around the Gjøa field, which is one of Vår Energi's core areas. Currently we are maturing the three oil and gas discoveries for a planned subsea development that will be tied back to the Gjøa platform. Through the agreement with TechnipFMC, the goal is to achieve faster and more competitive development."

The Gjøa Nord, Cerisa and Ofelia discoveries are estimated to contain up to a total of 110 million barrels of oil equivalent gross. If the licence partners decide to proceed, the plan is to coordinate the three developments. This will realize synergies in procurement, engineering, drilling, installation and project follow-up. An investment decision is planned in 2026.

Rød added:

"Through this agreement, we will leverage TechnipFMC's extensive experience and expertise on the Norwegian continental shelf and in the Gjøa area in particular. We look forward to continuing the collaboration. Together, we will optimize the development solution and ensure efficient project execution in order to maximize value creation.”

The collaboration agreement is for five years with the possibility of extension.

Partners in the PL153 Gjøa /Gjøa Nord licence are Vår Energi (operator and 30%), Petoro (30%), Harbour Energy Norge AS (28%), and OKEA ASA (12%).

Partners in the PL 929 Ofelia licence are Vår Energi (operator and 40%), Harbour Energy Norge AS (20%), Pandion Energy (20%), DNO (10%), and AkerBP (10%).

Partners in the PL636 Duva/Cerisa licence are Vår Energi (operator and 30%), ORLEN (30%), INPEX Idemitsu (30%), and Sval Energi (10%)

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.

Safe and responsible operations are at the core of our strategy. Our ambition is to be the safest operator on the NCS, and to become carbon neutral in our net equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 21,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.