Vår Energi enters strategic partnership with Halliburton

Vår Energi has formed a long-term strategic partnership with Halliburton for drilling services to further improve drilling and well performance and enhance value creation.

Vår Energi enters strategic partnership with Halliburton

The partnership covers drilling services related to exploration and production drilling for Vår Energi across the entire Norwegian Continental Shelf.

Vår Energi CEO, Torger Rød, is very pleased to join forces with the Halliburton team:

"Halliburton represents world class technical expertise and capabilities combined with extensive experience in areas of high strategic importance to our activities. Vår Energi aims to be the partner of choice. We seek operational excellence in everything we do and are committed to building strong, long-term strategic partnerships in all key business areas. Solid partnerships and collaboration across the entire value chain will enable operational excellence, supporting our plans for growth and value creation for all parties."

The contract has a duration of five years with options for an additional four years in total.

Ingrid Sølvberg, EVP Technology, Drilling and Subsurface, adds:

"We are on track to deliver on our end-2025 production target, an increase of more than 50% from today's level. Combined with our proven best-in-class exploration capabilities, teaming up with Halliburton will be a key enabler in meeting our ambitious long-term growth targets. Collaboration with strong partners will be a driving force in technology development, contribute to reducing costs and emissions, while also improving efficiency and HSE performance."

Vår Energi's activities span the entire NCS with a diversified portfolio of 158 licenses and 39 producing fields. Drilling activities are focused around four strategic hubs in the Balder/Grane area, the North Sea, the Norwegian Sea and the Barents Sea.