Vår Energi unlocking high-value barrels in the Balder area
Sandnes, Norway, 22 October 2024: Vår Energi ASA (OSE: VAR, the "Company") and license partner Kistos Energy Norway AS have reached the final investment decision for the Balder Phase V project in the Balder area. The fast-track development will be a key contributor to sustaining long term production and value creation beyond 2025. The project will develop 33 million barrels of oil equivalent (mmboe) of gross proved plus probable (2P) reserves for capital spend of USD ~690 million gross and with an attractive breakeven price of around 30 USD per barrel. Drilling will commence in the first