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Var Energi Awarded 4 Operatorships & 9 Partnerships in APA 2018

Source: www.gulfoilandgas.com 1/15/2019, Location: Europe

Var Energi has been awarded a total of 13 licenses in the Awards in Predefined Areas 2018 (APA) by the Ministry of Petroleum and Energy (MPE).

'We are very pleased that the results of the APA 2018 are fully aligned with our strategy to strengthen our position as the largest independent E&P company on the Norwegian continental shelf (NCS)', Kristin F. Kragseth, CEO in Var Energi said.

The company has been granted the following 4 operatorships and 9 partnerships:
North Sea: PL 985 – operator; PL 980 – operator; PL 987; PL 988; PL 984; PL 978; PL 977
Norwegian Sea: PL 1010; PL 1001; PL 1005; PL 796 B
Barents Sea: PL 1025 S – operator; PL 229 E – operator

Var Energi has reserves and resources of more than 1,250 billion barrels of oil equivalent (Mboe) on the NCS; one of our highest business priorities is the replacement of resources and reserves and exploration is a key part of the company’s future organic business growth.

'Var Energi has working interests in many of the key discoveries made on the NCS in recent years. I am happy that our thorough APA 2018 application has been rewarded, and the result of the APA 2018 will provide us with many exciting new opportunities', Denis Palermo, VP Exploration in Var Energi pointed out.

The MPE awarded a total of 83 licenses to 33 different companies. 37 of the licenses are located in the North Sea, 32 in the Norwegian Sea and 14 in the Barents Sea. 21 companies were offered operatorships.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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