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Vår Energi completes acquisition of ExxonMobil’s upstream assets in Norway

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Oilfield Technology,

Vår Energi, which is owned by Eni and HitecVision, has completed the acquisition of ExxonMobil’s upstream assets in Norway, which was agreed on 26 September this year.

The acquired fields, which are mostly operated by Equinor, will add additional daily production of approximately 150 000 bpd for the company. The new total production will be about 300 000 bpd growing organically to about 350 000 bpd in 2023.

Through this acquisition, Vår Energi continues to expand its material and diversified portfolio of oil and gas producing assets, development projects and attractive exploration licenses, and becomes the second largest E&P company on the Norwegian Continental Shelf (NCS) after Equinor, with total reserves and resources of about 1900 million boe.

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Upstream news Offshore news Oil & gas news