Vår Energi to acquire Neptune Energy’s Norwegian oil and gas assets to accelerate growth and value creation on the NCS
Sandnes, Norway, 23 June 2023: Vår Energi ASA (OSE: VAR) (“Vår Energi” or the “Company”) has today entered into an agreement with Neptune Energy Group Holdings Limited to acquire 100% of the shares of Neptune Energy Norge AS (“Neptune Norway”) for a cash consideration based on an agreed enterprise value of USD 2.275 billion (the “Transaction”) to accelerate growth and value creation as a leading E&P independent on the Norwegian Continental Shelf (NCS). In conjunction with the Transaction, Eni S.p.A (“Eni”) has agreed to acquire the remaining assets of Neptune group outside of Norway and