Vår Energi ASA $VAR (+0.89%) receives 14 new production licenses on the Norwegian Continental Shelf (NCS) as part of the 2025 Awards in Predefined Areas (APA) for mature areas, 6 of which as operator.
Vår Energi is a major oil and gas supplier to the European market, and continued access to new exploration areas is the basis for further growth and value creation.
Vår Energi is awarded four licenses in the North Sea, six licenses in the Norwegian Sea and four licenses in the Barents Sea - most of the licenses are located close to existing infrastructure and thus support the company's hub strategy.
The award was announced today by the Norwegian Ministry of Energy.
Torger Rød, COO of Vår Energi:
"The award of licenses in all our key areas on the Norwegian Continental Shelf in line with our priorities is a strong endorsement of Vår Energi's role as a responsible and trustworthy operator. Continued access to new exploration areas is essential to maintain our long-term position as a reliable energy supplier in an increasingly uncertain world. We are building a diversified portfolio and further strengthening our position as a leading operator. All licenses granted support our long-term growth strategy and ensure continuity in realizing opportunities and creating value."
