Vår Energi ’s Post

Another quarter with solid results! We are pleased to report strong operational and financial performance in the second quarter and first half of 2024, in-line or better than guidance. Highlights for the quarter: ·      Total income in the quarter was USD 1 940 million ·      Production of 293 kboepd in the first half of the year, in the upper end of guidance range for the period ·      Continued attractive and predictable dividends of USD 270 million (NOK 1,184 per share) for the second quarter, with planned third quarter [NW1] dividend of USD 270 million ·      5 of 7 projects in development are more than 75% complete  ·      Balder X target fourth quarter 2024 start-up remains with sail-away decision in August  ·      Eldfisk North and Kristin South project start-ups in the quarter, whilst Johan Castberg is firmly on track for fourth quarter 2024 first oil. The growth and value creation continues. As one of the world’s fastest growing E&Ps, our commitment to increase production to around 400 kboepd by end 2025 remains firm.   👉 Full report: https://lnkd.in/d7kVHjyN #oilandgas #energy #growth #valuecreation

Gjertrud Maria Halset will be hosting technical session during ONS this year 🎤 You’ll also meet Linda Riise from ConocoPhillips and Børge Nerland from OKEA ASA! Don't miss out on this if you’d like to learn more about drilling and subsurface. 👋 See you in Stavanger in August!

Production start-up in the Norwegian Sea! 😀 Today, we are celebrating start-up from the Lavrans well in the Kristin South project. Thank you Equinor (operator), Petoro and TotalEnergies for the strong alignment, commitment, and collaboration in the partnership! 🙌 🤝     This is indeed a brilliant example of how we create value by developing existing infrastructure on the Norwegian Continental Shelf. A new subsea template has been installed and tied into the Kristin platform in the Norwegian Sea – a cost efficient way to add production and extend the lifespan of fields in operations.     Expected production volumes are 58 million barrels of oil equivalent – adding more high value, low carbon barrels supporting our target to deliver between 350-400 thousand barrels of oil equivalent per day from 2025 and beyond.      #energy #energysupply #oilandgas #vårenergi #preferredpartner #oneteam 

Second long-term gas sales contract secured this month; extending our agreement with major European energy company Eni for delivery of up to five billion cubic meters (bcm) of natural gas over a 12-year period. 😀     The agreement with Eni, being confirmed shortly after a similar signing with VNG Handel & Vertrieb GmbH, is yet another strong testimony of Vår Energi’s commitment to being a stable and reliable energy supplier to key European markets.    👉 With the two agreements, we will be increasing our committed delivery of natural gas to a total of 10 billion cubic meters natural gas over the 12-year period to two of our long-standing partners.     This will ensure access to energy for households, communities, and businesses across the continent until the mid-2030’s.      #energy #energysupply #oilandgas #vårenergi 

New, commercial oil and gas discovery in the Gjøa area in the North Sea – yet another testament to our consistent and successful exploration strategy, targeting high value barrels close to existing infrastructure! 😀 👍 With estimated gross recoverable resources of between 18-39 million barrels of oil equivalent (mmboe), Cerisa is the fourth discovery in a row, with a total of up to 110 mmboe recoverable resources, close to the partly electrified Vår Energi operated Gjøa platform. The discovery adds to an already impressive exploration track record. Over the past five years, Vår Energi has had a discovery rate of over 50 percent, with finding costs of less than USD 1 per barrel post tax. The discovery supports our plans for long term value creation on the Norwegian Continental shelf. 💪 #energy #exploration #discovery #oilandgas #vårenergi 

Happy Pride! ❤️ We are embracing equality, diversity, and inclusion. We support our LGBTQ colleagues, friends, and the community around us. Pride is about accepting each other's differences and honoring those who have fought for equality. Vår Energi is committed to create an environment free from discrimination where diversity, personal, and cultural views are regarded as sources of mutual enrichment. #pride #diversity #vårenergi #oilandgas

Vår Energi and partners are awarded CO2 storage licence in North Sea😀. The Iroko carbon storage licence is located northeast of the Balder field - 130 kilometres west of the coast from Haugesund.   👉 Iroko has the potential to store up to 7,5 million tonnes of CO2 annually for at least 30 years, a total of approximately 215 million tonnes 💪. The operatorship of the Iroko carbon storage licence was awarded by Norwegian Ministry of Energy to Vår Energi today. The partners are OMV Norge AS and Lime Petroleum AS. #ccs #carbonstorage #sustainability #oilandgas #energy #vårenergi

Vår Energi extends long-term gas delivery agreement with the European energy major VNG Handel & Vertrieb GmbH. 😀 👍     The agreement includes delivery of up to five billion cubic meters natural gas over a 12-year period (2024-36) – demonstrating Europe's trust in Norway as an important energy provider and the need to ensure long-term energy supply.     Vår Energi is committed to continue to be a reliable and secure producer of natural gas, providing energy to households, communities, and businesses across the continent for decades to come.      As Norway’s second largest exporter of natural gas, Vår Energi will continue to explore for further petroleum resources across the Norwegian Continental Shelf. 💪   The agreement builds on the long-standing relationship between Vår Energi and VNG, dating back to the early 1990s.  More on our website.   #energy #energysupply #oilandgas #vårenergi