Var Energi ASA
5.48
EUR
+0.63
(+13.03%)
ISIN
NO0011202772
Return %
Stock
S&P 500
1Y
91.61
14.20
3Y
71.74
81.12
5Y
- -
68.34
Capital Structure
USD
•
in mil. unless spec.Working Capital
USD
•
in mil. unless spec.Growth Rates
USD
•
in mil. unless spec.Quarterly Revenue
USD
•
in mil. unless spec.Quarterly Earnings Per Share
USD
•
in mil. unless spec.Quarterly Dividends Per Share
USD
•
in mil. unless spec.Company Description
- CEO
- Nicholas Walker
- Full Time Employees
- 1,451
- Sector
- Energy minerals
- Industry
- Integrated oil
- Address
- Vestre Svanholmen 1 Sandnes RO Norway 4313
- IPO Date
- Feb 16, 2022
- Website
- varenergi.no
- Similar Companies
- Business
- Vår Energi AS is an independent upstream oil and gas company engaged in exploration, development, and production operations on the Norwegian continental shelf. The company produces crude oil, natural gas, liquefied natural gas, and natural gas liquids. Its core portfolio includes operated producing fields such as Goliat in the Barents Sea, Fenja in the Norwegian Sea, and Gjøa, Duva, Balder, and Ringhorne in the North Sea. In addition, it holds equity stakes in numerous other fields, including interests in over 30 producing assets with a strong focus on resource optimization and long-term growth through its hub strategy. Founded in 1965 and headquartered in Sandnes, Norway, Vår Energi emerged in 2018 following the merger of Eni Norge and Point Resources AS. The company is majority-owned by Eni International B.V. and is publicly listed on the Oslo Stock Exchange under the ticker VAR.OL. It is the second-largest independent exploration and production company on the Norwegian continental shelf and a key supplier of gas to Europe, with a workforce of approximately 1,000 employees. Recent major developments include the acquisition of Neptune Energy Norge AS in January 2024, which expanded Vår Energi’s portfolio by adding ownership in 12 producing assets, thereby strengthening its operational scale and partnership network, particularly with Equinor. This acquisition positioned Vår Energi as the second-largest supplier of Norwegian gas to Europe. Integration of Neptune Norway culminated in a statutory consolidation merger in mid-2024, further streamlining operations. Additionally, the company recently confirmed new oil discoveries near the Goliat field in the Barents Sea and has advanced production enhancement projects such as the Gjøa low-pressure project to extend field lifetimes and improve recoverable volumes. Vår Energi’s product and service offering comprehensively covers upstream oil and gas activities including exploration, drilling, production, and development of offshore oil and gas fields with a diversified asset base spanning the Barents Sea, Norwegian Sea, and the North Sea. The company also delivers on sustainable energy goals by maintaining a focus on low-emission production and operational efficiency, supported by strategic partnerships for maintenance and technological services, such as its collaboration with Aker Solutions. In summary, Vår Energi AS operates a broad and flexible portfolio of oil and gas assets on the Norwegian continental shelf, providing crude oil, natural gas, and related products, with recent strategic expansions through acquisitions and production enhancements underscoring its growth and value creation ambitions in the energy sector. The company’s ongoing high-value exploration and development activities secure its position as a leading independent upstream energy provider in Norway and Europe.