17 New NCS Licenses for Var Energi

Source: www.gulfoilandgas.com 1/14/2020, Location: Europe

Var Energi AS is awarded 17 new licenses (7 as operator) on the Norwegian Continental Shelf during the Awards in Predefined Areas for 2019.

“We are very pleased with the results. The new licenses are located in promising areas of the NCS, and are of strategic significance to us. The positive results reinforce our position as one of the majors on the Norwegian continental shelf”, says Var Energi CEO, Kristin F. Kragseth.

The licenses were awarded by the Ministry of Petroleum and Energy (MPE) today. Var Energi AS has been granted the following new licenses:

- North Sea: PL 1043 (op), PL 984 BS, PL 1035, PL 055 E, PL 987 B, PL1042, PL 917 B
- Norwegian Sea: PL 1065 (op), PL 1070, PL 947 B
- Barents Sea: PL 1072 (op), PL 1073 (op), PL 1074 (op), PL 1075 (op), PL 1079 (op), PL 1080, PL 1078 (op) = operator

Full overview of Var Energi’s NCS operatorships and partnerships.

Var Energi has reserves and resources of more than 1,900 million barrels of oil equivalent on the NCS. Exploration is a key part of Var Energi’s future organic business growth.

“Var Energi has working interests in many of the key discoveries made on the NCS in recent years. I’m happy that our thorough APA 2019 application has been rewarded. The result will provide us with many exciting new opportunities”, says Var Energi VP Exploration, Denis Palermo.


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