Var Energi Signs Long-Term Partnership Agreement for NCS Operations

Norwegian oil and gas company Vår Energi ASA has signed a long-term partnership deal with Aker Solutions, Honeywell, and StS-ISONOR for the delivery of modification and maintenance services on the Norwegian continental shelf (NCS).

Vår Energi said in a media release that the partnership builds on an already established collaboration model with clear incentives to work as an integrated team.

“Aker Solutions, Honeywell, and StS-ISONOR represent world-leading technical expertise and extensive experience in areas of strategic importance to our activities. With Vår Energi's clear growth ambitions, a strong and long-term partnership is crucial”, Torger Rød, Vår Energi's COO, said.

“By year-end, we will increase production to around 400 thousand barrels per day, which makes us one of the world's fastest-growing oil and gas companies”, Rød added.

The strategic alliance seeks to generate value through collaborative project planning, safe and efficient execution, strong teamwork, and shared objectives. The agreements are set for a five-year term, with the possibility of renewal, according to Vår Energi.

The agreement encompasses Vår Energi's operations spanning the entire NCS with a diversified portfolio of around 200 licenses and 40 producing fields.

Earlier this month, Vår Energi said it was awarded 16 new production licenses, including five operatorships, on the NCS in the 2024 Awards in Predefined Areas. Vår Energi secured nine licenses in the North Sea, six licenses in the Norwegian Sea, and one in the Barents Sea.

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