Eni and HitecVision-backed Vår Energi completed the acquisition of the upstream assets in Norway from ExxonMobil for $4.5bn.

Eni and HitecVision-backed Vår Energi, a Norwegian oil and gas company, completed the acquisition of the upstream assets in Norway from ExxonMobil, an energy provider and chemical manufacturer, for $4.5bn. “This transaction is a major milestone in the short history of Vår Energi and a proof of our commitment to further develop the NCS. In delivering on our ambitious growth plans, Vår Energi will not only be a major force on the shelf, we are also creating major opportunities for Norwegian suppliers in the years to come, securing employment in many parts of the country. It also gives me great pleasure to welcome our previous colleagues in ExxonMobil into Vår Energi. Our priority will be to continue to operate in a safe and environmentally responsible manner,” Kristin Kragseth, Vår Energi CEO.