Vår Energi ASA

Regulatory Filings • Jun 20, 2024

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

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

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

Liv.omdal@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. 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.