Var Energi completed the acquisition of the Norwegian oil and gas assets of Neptune Energy from CIC for $2.27bn.

Var Energi, a Norwegian oil and gas company, completed the acquisition of the Norwegian oil and gas assets of Neptune Energy, an oil and gas company, from CIC, a sovereign wealth fund, for $2.27bn. “Vår Energi is one of the fastest growing E&P companies in the world and is on track to nearly double production by end-2025. The acquisition of Neptune Norway is an important step to this end. Neptune Norway’s complementary assets and highly skilled organisation are a perfect fit to Vår Energi. We will work as one strong team, a company committed to delivering high value barrels from one of the most attractive oil and gas regions in the world with low cost and low emissions. The transaction is cash generative from day one supporting attractive and predictable dividends going forward,” Nick Walker, Vår Energi CEO.