Vår Energi sells Norne area assets and increases stake in Ringhorne East
Sandnes, Norway 8 May 2024: Vår Energi ASA (OSE: VAR) agrees the sale of its Norne area assets to DNO Norge AS for a fixed after-tax consideration of USD 51 million, and DNO Norge AS will transfer to Vår Energi their stake in the Ringhorne East unit. The transaction with DNO is in line with Vår Energi’s stated strategy to dispose of non-core assets to high grade the portfolio, supporting further growth and long-term value creation in our core hub areas. The assets being sold are late life, and the transaction will improve Vår Energi’s unit operating costs and emissions intensity outlook.