Vår Energi Awarded 12 New NCS Licenses

Source Company Press Release
Company Var Energi ASA
Tags Country: Norway, M&A: Deals, Licensing Round, Upstream: Drilling Activity, Upstream News
Date January 10, 2023

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. 

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. 

Vår Energi is offered following licenses: 

  • The North Sea: PL 554E, PL 1185, PL 1179, PL 1173 (op)
  • Norwegian Sea: PL 1194, PL 1192 (op), Pl 1188, PL 134E, PL1189, PL 1002C (op)   
  • Barents Sea: PL 1196 (op), PL 1197 (op) 

(op) = operator 

The results were announced today by the Ministry of Petroleum and Energy.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd