Vår Energi and partners awarded CO\2\ storage licence in North Sea

Vår Energi and partners awarded CO\2\ storage licence in North Sea

Issuer

Vår Energi ASA

Sandnes, Norway 20 June 2024; Vår Energi ASA ("Vår Energi") today was awarded a
CO\2\ storage licence in the North Sea, in partnership with OMV Norge AS and
Lime Petroleum Norway AS.

The Norwegian Ministry of Energy has
awarded (https://www.sodir.no/aktuelt/nyheter/generelle-nyheter/2024/seks
-selskap-far-tilbud-om-areal-for-lagring-av-co2/) the operatorship of the Iroko
carbon storage licence to Vår Energi. The Iroko area has the potential to store
up to 7,5 million tonnes of CO\2\ annually for at least 30 years, a total of
approximately 215 million tonnes.

The Iroko storage licence is located in the North Sea, northeast of the Vår
Energi operated Balder field and about 130 kilometres west of the coast from
Haugesund.

Licence partners: Vår Energi ASA (40%), OMV Norge AS (30%) and Lime Petroleum
Energy Norway AS (30%)

Vår Energi og partnerne tildelt CO\2\-lagringslisens i Nordsjøen

Sandnes, Norge XX juni 2024; Vår Energi ASA ("Vår Energi") ble i dag tildelt en
karbonlagringslisens i Nordsjøen, i partnerskap med OMV Norge AS og Lime
Petroleum Norway AS.

Energidepartementet (https://www.sodir.no/aktuelt/nyheter/generelle
-nyheter/2024/seks-selskap-far-tilbud-om-areal-for-lagring-av-co2/) tildelte
operatørskapet av lagringslisensen til Vår Energi. Beregninger viser at Iroko
kan lagre opptil 7,5 millioner tonn CO\2\ årlig i minst 30 år, totalt rundt 215
millioner tonn.

Lagringslisensen Iroko ligger i Nordsjøen, nordøst for det egenopererte Balder
-feltet og om lag 130 kilometer vest for kysten fra Haugesund.

Licence partners: Vår Energi ASA (40%), OMV Norge AS (30%) and Lime Petroleum
Energy Norway AS (30%)

Contact

Media relations
Liv Jannie Omdal, VP Communication

+47 97667137

[email protected]

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. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030. Vår Energi has
around 1400 employees and equity stakes in 47 fields. We have our headquarters
outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn
more, please visit varenergi.no.

More information:
Access the news on Oslo Bors NewsWeb site