Sval Energi Acquires Edison Norge

Vår Energi to Combine With BlueNord to Create Europe’s Largest Independent Oil and Gas Producer

July 24, 2026

Oil & Gas

Vår Energi and BlueNord agreed to combine their businesses in a statutory merger expected to create Europe’s largest independent oil and gas producer. BlueNord shareholders will receive newly issued Vår Energi shares plus cash consideration, and the transaction is expected to close around the end of 2026 subject to approvals and regulatory clearances.

DNO ASA to Acquire Sval Energi Group AS for $450 Million

January 1, 2025

Oil & Gas

DNO ASA has agreed to acquire 100% of Sval Energi Group AS from HitecVision for USD 450 million (enterprise value USD 1.6 billion). The transaction will expand DNO’s North Sea scale and diversification by adding a portfolio of producing and development oil and gas assets, with completion expected mid-2025 subject to regulatory approvals.

Vår Energi Acquires Neptune Energy Norge AS

January 31, 2024

Oil & Gas

Vår Energi ASA completed the acquisition of 100% of the shares in Neptune Energy Norge AS, strengthening its position on the Norwegian Continental Shelf and adding ~67 kboepd of production and ~265 mmboe of 2P reserves. The transaction was agreed at an enterprise value of USD 2.275 billion and closed on 31 January 2024 (effective date 1 January 2023); net cash consideration paid on completion (less cash in Neptune Norway) was approximately USD 1.2 billion. The deal increases Vår Energi's scale, operatorships and gas/LNG exposure and is inter-conditional with a separate transaction in which Eni acquires the remainder of Neptune's global assets.

Sval Energi Acquires Suncor Energy Norge AS and Purchases Equinor Interests on Norwegian Continental Shelf

September 30, 2022

Energy

Privately owned Sval Energi has completed acquisitions that strengthen its portfolio on the Norwegian Continental Shelf, including the purchase of Suncor Energy Norge AS and stakes acquired from Equinor in the Martin Linge Unit and Greater Ekofisk Area. The transactions add roughly 34,000 boe/d of production overall and transfer about 16 Suncor Norway employees to Sval while increasing Sval's reserves and operated positions in multiple fields.

Sval Energi Acquires Spirit Energy Norway

May 31, 2022

Oil & Gas

Sval Energi AS has completed the acquisition of Spirit Energy Norway for USD 1,026 million, with the transaction closing on May 31 and a commercial effective date of January 1, 2021. The deal transfers 45 licences (6 operated), including seven producing fields (two operated), and expands Sval Energi's producing asset base and development/exploration opportunities on the Norwegian Continental Shelf.

Vår Energi Acquires ExxonMobil's Upstream Assets in Norway

December 10, 2019

Energy

Vår Energi has completed the acquisition of ExxonMobil's Norway upstream assets for a cash consideration of roughly USD 4.5 billion, a deal that effectively doubled the company's production on the Norwegian Continental Shelf. The portfolio adds interests in more than 20 producing fields (about 150,000 boepd additional), increases reserves to ~1,900 million boe and transfers some ~33–50 ExxonMobil employees to Vår Energi, reinforcing the company's position as the second-largest operator on the NCS.