Vår Energi ASA

Regulatory Filings • Sep 23, 2025

Askeladd West starts gas production

Askeladd West starts gas production

Sandnes, Norway, 23 September 2025: Production from the Equinor operated

Askeladd West field in the Barents Sea has commenced. Askeladd West will be an

important contributor in maintaining the production plateau of the Snøhvit

field.

The Askeladd West subsea gas field is an important step in the continued

development of the Snøhvit field. Thie highly profitable project adds gross

recoverable reserves of about 15 billion standard cubic metres of gas and will

ensure full capacity utilisation of the Hammerfest LNG plant in the years to

come.

COO in Vår Energi, Torger Rød, said:

"We congratulate Equinor with the safe and successful start-up of Askeladd West.

The field will contribute with reserves of around 11 million barrels of oil

equivalent net to Vår Energi, and further enhances our position as a key player

in the Barents Sea. Norway is a key provider of gas to Europe, and Vår Energi

plays a significant role in this, as one of the country's largest exporters of

gas".

Askeladd West consists of two wells in a new subsea template tied back to the

Snøhvit field.  The field is produced through Hammerfest LNG, the only plant in

Northern Europe producing and exporting liquified natural gas. The plant

produces 6.5 billion standard cubic metres of gas each year. This is the

equivalent of about five per cent of Norway's total gas exports, and about two

per cent of the EU's gas demand.

Equinor Energy AS is operator (36.79%) of Askeladd West, with Vår Energi (12%),

Petoro AS (30%), Total E&P Norge AS (18.40%) and Harbour Energy Norway AS

(2.81%) as partners.

Photo: Øyvind Gravås and Jonny Engelsvoll / Equinor

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 905 09 291

ida.fjellheim@varenergi.no

Media

Liv Jannie Omdal, VP Communications

+47 97667137

liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)

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.

Safe and responsible operations are at the core of our strategy. Our ambition is

to be the safest operator on the NCS, and to become carbon neutral in our net

equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.

We have our headquarters outside Stavanger, Norway, with offices in Oslo,

Hammerfest and Florø.