Vår Energi enters strategic partnership with Aker Solutions, Honeywell, and StS-ISONOR
Sandnes, Norway 22 January 2025: Vår Energi ASA (OSE:VAR) enters a long-term strategic partnership with Aker Solutions, Honeywell, and StS-ISONOR for the delivery of modification and maintenance services.
The collaboration includes services related to modification and maintenance for Vår Energi's operations on the Norwegian Continental Shelf. The strategic partnership between Vår Energi, Aker Solutions, Honeywell, and StS-ISONOR builds on an already established collaboration model with clear incentives to work as an integrated team towards common goals.
Vår Energi's COO, Torger Rød, is pleased to initiate a four-party collaboration with the team:
Aker Solutions, Honeywell and StS-ISONOR represent world-leading technical expertise and extensive experience in areas of strategic importance to our activities. With Vår Energi's clear growth ambitions, a strong and long-term partnership is crucial. We are working purposefully to achieve results through close collaboration, actively utilising our partners’ core competencies. By year-end, we will increase production to around 400 thousand barrels per day, which makes us one of the world's fastest-growing oil and gas companies.
The strategic partnership aims to create value through joint project planning, safe and efficient execution, strong collaboration and common goals. The contracts have a duration of five years with the option to extend.
Vår Energi's operations span the entire Norwegian Continental Shelf with a diversified portfolio of around 200 licences and 40 producing fields.
Photo (from left): Aker Solutions EVP for Life Cycle Paal Eikeseth, StS-ISONOR CEO Ingrid Solheim, Vår Energi COO Torger Rød and CEO in Honeywell, Geir Myhre.
Contacts
Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no
Media
Liv Jannie Omdal, VP Communications
+4797667137
liv.omdal@varenergi.no
About Vår Energi
Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). We are committed to deliver a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record. Our ambition is to be the safest operator on the NCS, the partner of choice, an ESG leader with a tangible plan to reduce emissions from our operations by more than 50% within 2030.
Vår Energi has around 1400 employees and equity stakes in 40 producing fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø.
