VNG to Explore Strategic Options to Maximize E&P Business Value
Verbundnetz Gas Aktiengesellschaft (VNG AG) revealed that it will explore ‘strategic options’ to maximize the value of its oil and gas exploration and production business in Norway and Denmark, VNG Norge AS (VNG Norge).
The development, which is part of VNG Group’s 2030+ program, aims to support further growth to position the company as a leading player on the Norwegian Continental Shelf.
VNG Norge’s operated flagship asset is Fenja, one of the largest Norwegian discoveries in recent years. Overall, the company holds interests in 32 licenses in Norway, two in Denmark and participated in five producing fields and in three field developments as at the end of 2017.
Citigroup has been engaged to assist VNG AG in the evaluation of different options.
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