How it started
History
The company was established in December 2018 as a result of the merger between Eni Norge and Point Resources AS. Eni Norge was a subsidiary of the Italian oil and gas company Eni, while Point Resources AS was owned by HitecVision, a private equity firm specializing in the energy sector. The merger created one of the largest independent oil and gas companies in Norway, with a production of approximately 300,000 barrels of oil equivalent per day.
In August 2019, Vår Energi AS acquired ExxonMobil's upstream assets in Norway for a total of $4.5 billion. The deal included ownership interests in more than 20 producing fields in the North Sea, including the Grane, Snorre, and Fram fields. The acquisition made Vår Energi AS the second-largest operator on the Norwegian continental shelf, after Equinor.
In July 2026, Vår Energi agreed to acquire BlueNord in a cash-and-share transaction valuing the company at NOK 12.84 billion (US$1.33 billion). The combination was expected to create Europe's largest independent oil and gas producer, with a long-term production target of approximately 450,000 barrels of oil equivalent per day, while Eni would remain its majority shareholder.
From Wikipedia’s article on Vår Energi, shared under CC BY-SA 4.0.2