Eni and Point Resources, a company of HitecVision, owners respectively of 69,85% and 30,15% of Vår Energi AS ("Vår Energi" or the "Company"), today announce their intention to launch a strategic review regarding the future ownership structure of Vår Energi, in order to better pursue future growth and maximize value generation. The review will consider various alternatives, including a possible initial public offering (“IPO”). Eni will continue to hold a majority stake in the Company, maintaining the consolidation at equity.
Vår Energi is an integrated exploration and production company, formed in 2018 by the merger of Eni Norge and Point Resources, and today it is the largest independent operator on the Norwegian continental shelf, with a production of 239.000 barrels of oil equivalent per day in the first half of the year. 2021 and a 2P reserve base (SEC) of 1.147 million boe at the end of 2020.