Vår Energi - (VAR)

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Vår Energi om konsesjonsrunde, kostnadskutt og letetoppen de har kapret fra konkurrenten

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Vår Energi ASA: Ex dividend Q2 2025

Sandnes, Norway, 18 August 2025: The shares in Vår Energi ASA (OSE: VAR) will be
traded ex dividend of NOK 1.222 per share for the second quarter of 2025, as of
today, 18 August.
…

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With reference to the stock market announcement on 22 July, the extraordinary
general meeting held on 12 August in Vår Energi has resolved to pay a dividend
payment of NOK 1.222 per share, NOK 3 050 608 433 in total, equal to USD 300
million, relating to Q2 2025. The dividend will be paid on 26 August in NOK and
the NOK dividend amount is based on the daily exchange rate published by Norges
Bank 21 July approximately at 1600hrs CEST.

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
release was published by Ida Fjellheim, VP Investor Relations at Vår Energi ASA,
on 18 August 2025 at 07:00 CEST.

Kilde

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Vår Energi når produksjon på 400 tusen fat per dag før planen

Sandnes, Norge, 26. august 2025: Vår Energi ASA (OSE: VAR) har raskere enn plan
nådd 400 tusen fat oljeekvivalenter per dag (kboepd) i produksjon. Selskapet er
nå på god vei til å produsere rundt 430 kboepd i fjerde kvartal i år.
…

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Milepælen er resultatet av at oppstarten av Jotun FPSO går raskere enn planlagt,
med forventet produksjons-topp i løpet av september. I tillegg bidrar de øvrige
feltene i selskapets portefølje med sterke produksjonstall.

CEO i Vår Energi, Nick Walker:

«Dette er en stor milepæl for selskapet og er resultatet av hardt arbeid og
målrettet innsats av ansatte i Vår Energi, våre leverandører og partnere. Det
viser våre styrke som operatør og motiverer oss til å fortsette arbeidet med å
levere langsiktig og bærekraftig verdiskaping.».

Vår Energi leverer sterk vekst i 2025, og styrker posisjonen som et ledende E&P
-selskap på norsk sokkel. Selskapet forventer å nå midt-sjiktet av produksjons
-guidingen for 2025 på 330-360 kboepd, og er i rute til å nå rundt 430 kboepd i
fjerde kvartal i år.

Vår Energi har mål om å opprettholde produksjonen på 350 til 400 kboepd til 2030
og forbi. Nye volumer skal etter planen utvikles fra en portefølje på rundt 30
tidligfaseprosjekter. Fire v disse prosjektene er alt sanksjonert i 2025, mens
det forventes en investeringsbeslutning på ytterligere seks prosjekter i løpet
av året.

Leting vil også bidra til å opprettholde produksjonen etter 2030, og Vår Energi
fortsetter å være en av de mest aktive leteaktørene på sokkelen, og har tre
kommersielle funn så langt i 2025.

I tillegg til kostnadsreduksjon og forbedringsarbeid har fleksibilitet i
selskapets investeringsprogram vist seg å gi betydelig verdiskaping og robusthet
i et volatilt marked, som sikrer en solid kontantstrøm og langsiktig
utbyttekapasitet.

Om Vår Energi

Vår Energi er et ledende, uavhengig, oppstrøms olje- og gass-selskap på norsk
kontinentalsokkel. Vi forplikter oss til å levere en bedre fremtid gjennom
ansvarlig og verdibasert vekst, tuftet på over 50 år med drift på norsk sokkel.
Selskapet har en robust og variert portefølje med pågående utbyggingsprosjekter
og en solid letehistorikk.

Sikker og ansvarlig drift står sentralt i vår strategi. Vår ambisjon er å være
den sikreste operatøren på norsk sokkel og bli karbonnøytral i våre netto
driftsutslipp innen 2030.

Vår Energi har rundt 1 400 medarbeidere og eierskap i 42 produserende felt. Vi
har vårt hovedkontor på Forus, utenfor Stavanger, med kontorer i Oslo,
Hammerfest og Florø.

Kontakt

Investor relations

Ida Marie Fjellheim
VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media

Liv Jannie Omdal
VP Communications
+47 976 67 137
liv.omdal@varenergi.no

Kilde

[TekBot]

Vår Energi reaches 400 kboepd production milestone ahead of schedule

Sandnes, Norway, 26 August 2025: Vår Energi ASA (OSE: VAR) has achieved a
significant milestone by reaching a production level of 400 thousand barrels of
oil equivalent per day (kboepd), ahead of schedule. The Company is also on track
…

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to produce around 430 kboepd in the fourth quarter this year, delivering on its
strategy for transformative growth in 2025.

The higher than expected production level has been achieved as the Jotun FPSO at
the Balder field continues to ramp-up ahead of plan, with peak production
expected during September. In addition, other assets across the portfolio are
contributing with strong deliveries.

“This is a major achievement for the Company and a testament to the hard work
and dedication of the people in Vår Energi, our suppliers and partners. It
demonstrates the strength of our operational capabilities and the momentum we
are building as we continue to grow production. It is also a reflection of the
successful execution of our strategy to deliver long-term, sustainable value
creation for all our stakeholders.” said Nick Walker, CEO of Vår Energi.

Vår Energi is delivering transformational growth in 2025, confirming its
position as a leading, pure play E&P company on the highly attractive Norwegian
Continental Shelf (NCS). The Company expects to achieve the mid-point of its
full-year production guidance of 330-360 kboepd and is on track to produce
around 430 kboepd in the fourth quarter of this year. Looking ahead, Vår Energi
is committed to sustain high value creation towards 2030 and beyond. The Company
aims to maintain production in the range of 350 to 400 kboepd over time,
supported by a robust portfolio of around 30 early-phase projects. Of these,
more than 10 projects are expected to reach final investment decision this year,
with four already sanctioned. In addition, Vår Energi continues to be one of the
most active explorers on the NCS with three commercial discoveries year to date.

The Company is delivering significant value creation through reduced costs, a
high quality and flexible investment program, and incremental improvements
throughout our operations. This provides resilience in a volatile business
environment, strong cash flow generation and strengthens our long-term
shareholder distribution capacity.

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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim
VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media relations

Liv Jannie Omdal
VP Communications
+47 976 67 137
liv.omdal@varenergi.no

Kilde

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Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 27 August 2025: Deputy employee representative to the Board,
Jann Idar Dillern Johansen in Vår Energi has bought 287 shares in the company at
a price of NOK 34.57 per share. The transaction was performed on 26 August 2025.
…

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Following the purchase, Jann Idar Dillern Johansenholds a total of 13 987 shares
in Vår Energi ASA.

Details of the trades are included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 29 August 2025: Deputy employee representative to the Board,
Finn Volrat Pettersen in Vår Energi has bought 1170 shares in the company at a
price of NOK 34.16 per share. Following the purchase, Finn Volrat Pettersenholds
…

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a total of 25 926 shares in Vår Energi ASA.

Details of the trades are included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

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Vår Energi ASA’s share saving plan allocates shares

Sandnes, Norway, 4 September 2025: A total of 566 567 shares were purchased on
behalf of employees in Vår Energi ASA (OSE: VAR) participating in the company’s
employee share saving programme. The average purchase price was NOK 33.3169 per
…

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share. The transactions are based on savings made in July, August and September
2025. 86% of Vår Energi employees took part in the share saving for these
months.

As part of the programme, primary insiders in Vår Energi ASA (OSE:
VAR) purchased 17 218 shares at an average price of NOK 33.3169 per share.

Details on individual allocation of shares to primary insiders is included in
the attached notification of trading.

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi confirms the Jotun FPSO has reached peak production

Sandnes, Norway, 10 September 2025: Vår Energi ASA (OSE: VAR) announce that the
Jotun FPSO has reached peak production ahead of schedule. This marks a
significant milestone for the Company and the continued development of the
…

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Balder field in the North Sea, adding high value barrels towards 2045 and
beyond.

The Jotun FPSO is now producing over 80 thousand barrels of oil equivalent per
day (kboepd) gross, on top of current production of around 30 kboepd gross
combined from the Balder Floating Production Unit (FPU) and Ringhorne
facilities. The Jotun FPSO was brought onstream on 22 June 2025.

Nick Walker, CEO of Vår Energi, said:

“The achievement of this key milestone is another important step in delivering
on Vår Energi’s transformative production growth target in 2025. The rapid ramp
-up to peak production at the Jotun FPSO, alongside strong performance across
our portfolio, puts us on track to meet our production target of around 430
kboepd in the fourth quarter of this year. With the new facilities in the Balder
area designed to extend production beyond 2045 we are on track to create more
value from the area.”

All 14 subsea production wells are now online and are on average producing in
line with expectations, and work is ongoing to further optimize the production
from Jotun FSPO. The Balder Phase V and VI projects are underway and will add
additional capacity, maintaining high production from the Balder area going
forward.

Vår Energi is operator (90%) of the Balder field, with Kistos Energy Norway AS
as partner (10%).

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media
Liv Jannie Omdal, VP Communications
+47 97667137
liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)

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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1 400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 16 September 2025: Deputy employee representative to the Board,
Anita Hommedal in Vår Energi has bought 456 shares in the company at a price of
NOK 32.83 per share. Following the purchase, Anita Hommedal holds a total of 4
…

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073 shares in Vår Energi ASA.

Details of the trade is included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@­varenergi.no (ida.fjellheim@%C2%ADvarenergi.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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 17 September 2025: Employee representative to the Board, Jan
Inge Nesheim in Vår Energi has bought 2110 shares in the company at a price of
NOK 32.70 per share. Following the purchase, Jan Inge Nesheim holds a total of
…

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58 673 shares in Vår Energi ASA.

Details of the trade is included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@­varenergi.no (ida.fjellheim@%C2%ADvarenergi.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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider, CFO Carlo Santopadre

Sandnes, Norway, 18 September 2025: Chief Financial Officer, Carlo Santopadre in
Vår Energi has today bought 3100 shares in the company at a price of NOK 32.71
per share. Following the purchase, Carlo Santopadre holds a total of 30 407
…

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shares in Vår Energi ASA.

Details of the trade is included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@­­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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA: Correction: Notification of trade by primary insider

Sandnes, Norway, 22 September 2025: Vår Energi ASA (the “Company”) (OSE: VAR)
refers to the stock exchange announcement published on 12 March 2025 regarding a
reported purchase of 1100 shares in the Company at a price of NOK 30.56 per
…

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share by Chief Financial Officer Carlo Santopadre.

The Company has become aware that due to an error, the purchase order to which
the transaction related was not completed. As a consequence, no shares were
purchased. Carlo Santopadre holds a total of 30 407 shares in Vår Energi ASA.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@­­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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 22 September 2025: Employee representative to the Board, Jann
Idar Dillern Johansen in Vår Energi has bought 7446 shares in the company at a
price of NOK 32.89 per share. The transaction was performed on September 19,
…

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2025. Following the purchase, Jann Idar Dillern Johansen holds a total of 21 905
      shares in Vår Energi ASA.

Details of the trade is included in the attached notification of trading. This
information is subject to the disclosure requirements pursuant to MAR article 19
and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@­varenergi.no (ida.fjellheim@%C2%ADvarenergi.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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[TekBot]

Askeladd West starts gas production

Sandnes, Norway, 23 September 2025: Production from the Equinor operated
Askeladd West field in the Barents Sea has commenced. Askeladd West will be an
important contributor in maintaining the production plateau of the Snøhvit
…

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field.

The Askeladd West subsea gas field is an important step in the continued
development of the Snøhvit field. Thie highly profitable project adds gross
recoverable reserves of about 15 billion standard cubic metres of gas and will
ensure full capacity utilisation of the Hammerfest LNG plant in the years to
come.

COO in Vår Energi, Torger Rød, said:

“We congratulate Equinor with the safe and successful start-up of Askeladd West.
The field will contribute with reserves of around 11 million barrels of oil
equivalent net to Vår Energi, and further enhances our position as a key player
in the Barents Sea. Norway is a key provider of gas to Europe, and Vår Energi
plays a significant role in this, as one of the country’s largest exporters of
gas”.

Askeladd West consists of two wells in a new subsea template tied back to the
Snøhvit field. The field is produced through Hammerfest LNG, the only plant in
Northern Europe producing and exporting liquified natural gas. The plant
produces 6.5 billion standard cubic metres of gas each year. This is the
equivalent of about five per cent of Norway’s total gas exports, and about two
per cent of the EU’s gas demand.

Equinor Energy AS is operator (36.79%) of Askeladd West, with Vår Energi (12%),
Petoro AS (30%), Total E&P Norge AS (18.40%) and Harbour Energy Norway AS
(2.81%) as partners.

Photo: Øyvind Gravås and Jonny Engelsvoll / Equinor

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media
Liv Jannie Omdal, VP Communications
+47 97667137
liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)

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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø.

Kilde

[bones70]

Opptur for Vår Energi

Oljeselskapet Vår Energi stiger rundt tre prosent etter at den amerikanske storbanken Citi har tatt opp dekning av aksjen. Analytikerne i Citi setter et kursmål på hele 46 kroner. Aksjen omsettes onsdag morgen for 35 kroner. Kursutviklingen i Vår har vært svak gjennom sommeren og aksjen ligger nå på samme nivåene som i slutten av juni, men under nivåene fra i januar i år.

[pleximus83]

https://www.dn.no/bors/var-energi/spar-aksjefest-verdsettelsen-er-for-billig-til-a-ignorere/2-1-1875944

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Vår Energi øker eierandelen i Ekofisk PPF-prosjektet

Sandnes, 1 oktober 2025: Vår Energi ASA (OSE: VAR) har kjøpt TotalEnergies
eierandel i utbyggingsprosjektet Ekofisk Previously Produced Fields (PPF) i
utvinningstillatelse PL018F.
…

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Ekofisk PPF er operert av ConocoPhilips og ligger i Ekofisk-området på norsk
sokkel. Målet med prosjektet er å forlenge produksjonstiden gjennom forbedret
utnyttelse av reservoaret og økte produksjonsrater. Dette forventes å øke
utvinnbare ressurser betydelig, ved å ta i bruk nye kompletteringsløsninger og
horisontal brønnteknologi. Prosjektet består av fire nye havbunnsrammer og 11
produksjonsbrønner som knyttes tilbake til Ekofisk feltsenter.

Transaksjonen vil øke Vår Energis eierandel i PPF-prosjektet i PL018F fra 12,388
% til 52,284 %, og styrker dermed selskapets posisjon i Ekofisk-området.
Gjennomføring av transaksjonen er betinget en endelig investeringsbeslutning for
PPF-prosjektet og relevante myndighetsgodkjenninger, inkludert fradeling av
PL018F-lisensen fra PL018-lisensen. Effektiv dato er 1. januar 2025.

Det anslås at transaksjonen vil tilføre netto påviste og sannsynlige reserver på
ytterligere 38 millioner fat oljeekvivalenter (mmboe) med lave driftskostnader
per fat og et potensial for videre vekst. Endelig investeringsbeslutning
forventes tatt i fjerde kvartal i år, med produksjonsstart fra prosjektet
forventet mot slutten av 2028.

«Ekofisk PPF-prosjektet er en strategisk utbygging som støtter opp om våre
ambisjoner om å opprettholde et produksjonsnivå mellom 350 til 400 tusen fat
oljeekvivalenter per dag (kboepd) mot 2030 og forbi. Transaksjonen er også i
tråd med vår strategi om å øke eksponeringen i et område hvor vi allerede er til
stede, og å tilføre reserver med betydelig oppsidepotensial til lav kostnad,»
sier Nick Walker, konsernsjef i Vår Energi.

Etter transaksjonen er den fradelte PL018F-lisensen operert av ConocoPhillips
(35,112 %), med Vår Energi ASA (52,284 %), DNO ASA (7,604 %) og Petoro (5 %) som
partnere.

Om Vår Energi

Vår Energi er et ledende, uavhengig, oppstrøms olje- og gass-selskap på norsk
sokkel. For mer informasjon, vennligst se: varenergi.no

Kontakt

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Liv Jannie Omdal
VP Communications
+47 976 67 137
liv.omdal@varenergi.no

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Vår Energi increases ownership in the Ekofisk PPF Project

Sandnes, Norway, 1 October 2025: Vår Energi ASA (OSE: VAR) announces it has
acquired TotalEnergies’ ownership interest in the Ekofisk PPF (“Previously
Produced Fields”) development project in licence PL018F.
…

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The Ekofisk PPF project is located in the Greater Ekofisk Area of the Norwegian
Continental Shelf (NCS). The project will extend the production life of the
Ekofisk area. The re-development will enable better reservoir exposure and
production rates resulting in significantly increased recoverable resources,
through use of new completion and horizontal well technology. The project
consists of four new subsea templates and 11 production wells tied back to the
Ekofisk Field Center.

The transaction will increase Vår Energi’s ownership interest in the PPF
project in licence PL018F from 12.388% to 52.284%, strengthening its position in
the Greater Ekofisk Area. Completion of the transaction is subject to Final
Investment Decision for the PPF project and customary regulatory approvals,
including the carve-out of the PL018F licence from the PL018 licence. The
effective date is 1 January 2025.

The transaction will add estimated net proved plus probable reserves of 38
million barrels of oil equivalent (mmboe) with low operating costs per barrel
and potential for further growth. Final investment decision is expected to be
taken in the fourth quarter this year with production from the project expected
to start up at the end of 2028.

Nick Walker, CEO of Vår Energi, commented:

“The Ekofisk PPF project is a strategic development that supports our ambitions
to maintain a production level of between 350 to 400 thousand barrels of oil
equivalent (kboepd) towards 2030 and beyond. The transaction also supports our
hub strategy by increasing exposure in an area where we are already present and
adds low-cost reserves with significant upside potential.”

Following the transaction, the PL018F licence holders are ConocoPhillips
(35.112%, operator), with Vår Energi ASA (52.284%), DNO ASA (7.604%%) and Petoro
(5%) as partners.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian Continental Shelf (NCS). To learn more, please visit varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Liv Jannie Omdal
VP Communications
+47 976 67 137
liv.omdal@varenergi.no

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Vår Energi is increasing production and reserves from the Gjøa field

Sandnes, Norway, 7 October 2025: Vår Energi ASA (OSE: VAR) is pleased to
announce an increase in both production as well as recoverable volumes from the
Gjøa field (PL153), following the start-up of the Gjøa low pressure project.
…

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The project has modified the compressor systems on the Gjøa platform, which has
enabled the wells to produce longer and at higher rates, increasing the
remaining recoverable volumes.

Production from the Gjøa field increased by 6 thousand barrels of oil equivalent
per day (kboepd) from 35?kboepd to 41?kboepd (gross) as a result of the start
-up. In addition, remaining recoverable volumes increased by a total of 6.3
million boe, representing approximately 25% increase. The low-pressure project
extends the economic production life of Gjøa by 2 to 3 years and has a payback
period of less than 6 months.

COO of Vår Energi Torger Rød said:
“This is a great achievement. By using off-the-shelf technology, we are not only
boosting production and remaining recoverable volumes from the Gjøa field, we
are also prolonging the economic lifetime of the other producing fields Duva,
Vega and Nova that are tied into the Gjøa platform. This is a win-win situation
for the producing fields and the development projects in the Greater Gjøa
area.”

The platform modifications allow for flexible operations and are designed to
enhance production from all related producing fields. The project was conducted
as part of a planned maintenance shutdown to minimize impact on daily
operations.

The concept select studies were performed by Aker Solutions and the project was
executed by Rosenberg Worley. The low pressure production commenced in
September.

Partners in the Gjøa licence (PL153): Vår Energi (operator and 30%), Petoro
(30%), Harbour Energy Norge AS (28%) and OKEA ASA (12%)

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media
Liv Jannie Omdal, VP Communications
+47 976 67 137
liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)

About us

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian Continental Shelf (NCS). To learn more, please visit varenergi.no

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Vår Energi: Third quarter 2025 trading update

Sandnes, Norway, 10 October 2025: Vår Energi ASA (OSE: VAR, the “Company”) will
publish its financial report for the third quarter 2025 on Tuesday 21 October.
Today, the Company provides an update on production, sales volumes and other
…

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relevant items.

Vår Energi’s net production of oil, liquids and natural gas averaged 370 kboepd
in the third quarter of 2025, an increase of 29% from the second quarter and an
increase of 44% compared to the third quarter of 2024. Vår Energi expects to
reach around the mid-point of the production guidance of 330-360 kboepd for the
full-year 2025. Fourth quarter 2025 production is expected to be around 430
kboepd.

The production split in the third quarter was 74% oil and NGLs (liquids) and 26%
gas. Total volumes produced were 34.1 mmboe whereas volumes sold in the quarter
amounted to 30.5 mmboe. The underlift position is mainly due to timing of crude
liftings in the quarter. Vår Energi obtained a strong average realised price
(volume-weighted) of USD 68 per boe in the quarter. The realised crude price was
USD 69 per barrel. The realised gas price of USD 73 per boe is a result of fixed
price contracts and flexible gas sales agreements, allowing for optimisation of
indices. The fixed price contracts represented 18% of third quarter gas volumes
sold at an average price of USD 90 per boe, substantially above the spot market
reference price. For the fourth quarter fixed price gas contracts represent 15%
of volumes at USD 78 per boe.

[]
Production (kboepd)[1] Q3 2025 Q2 2025 Q3 2024 YTD 2025 YTD 2024
Crude oil 255 180 154 199 162
Gas 98 92 86 95 100
NGL 18 16 16 17 19
Total 370 288 256 311 281

Realised prices (USD/boe)
Crude oil price 69 68 81 71 83
Gas price 73 79 76 79 71
NGL price 39 43 46 43 47
Average (volume weighted) 68 70 76 72 76

Sales volumes (mmboe)
Crude oil 20.8 17.1 14.2 52.9 43.9
Gas 8.1 7.7 7.7 23.8 24.8
NGL 1.7 1.2 2.0 3.6 6.3
Total 30.5 26.0 24.0 80.3 74.9

Total production (mmboe) 34.1 26.2 23.6 84.8 76.9

¹ Produced figures are including fuel gas not for sale

Other items:

Vår Energi’s functional currency is NOK, whilst interest bearing loans are in
USD and EUR. The strengthening of the NOK in the third quarter of 2025 led to a
net exchange rate gain of approximately USD 50 million.

In the quarter, the company is expecting higher depreciation per boe as new
fields are brought onstream.

As previously communicated, the following items impacted the cash flow in the
third quarter: cash tax payments totaling USD ~530 million and a dividend
payment for the second quarter of USD 300 million, paid in August.

The information above is based on a preliminary assessment of the Company’s
third quarter 2025 financial results and may be subject to change until the
financial statements have been finally approved and published by the Company.

Third quarter webcast and conference call

Vår Energi will release its quarterly results on 21 October at 07:00 CEST. A
webcast followed by Q&A will be held at 10:00 CEST, hosted by CEO Nick Walker
and CFO Carlo Santopadre. You can follow the webcast with supporting slides,
available on:
Q3 2025 • WN Event

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, VP Public Affairs

+47 92616759

andreas.wulff@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). To learn more, please visit varenergi.no.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act

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