During the last fiscal year, Vår Energi managed to double its production in a period of only twenty-four months, reaching a record 397 kboepd in the fourth quarter. This performance is supported by the start-up of nine strategic projects, most notably the Balder and Johan Castberg operations, which have reduced the risk profile of its future projections.
Vår Energi’s production plans and projections
Under a vision of authority on the Norwegian Norwegian continental shelfthe company has raised its long-term production target to over 400,000 barrels of oil equivalent per day. The board has also confirmed that cost efficiency remains a top priority, with unit production expenditure at around $10 per barrel.
Financial discipline enables the company to generate robust operating cash flow and ensure a highly attractive dividend policy for its shareholders. For example, the 2P reserve replacement rate reached an impressive 185% at the end of 2025.
This growth is supported by a pipeline of thirteen projects in the execution phase and more than thirty early-stage initiatives that ensure the viability of the business over the next decade. The company plans to sanction up to eight new projects during the current year, which would enhance its position as a consistent value driver in a global market characterized by volatility.
On the other hand, financial sustainability is complemented by environmental performance. environmental performance performance. With an emissions intensity of just 9 kg of CO2 per barrel, the company ranks in the top quartile of the global industry.
It is this combination of profitability and operational responsibility that allows the organization to project free cash flow of between $5 billion and $10 billion for the period through 2032. Its robust balance sheet and uncommitted capital provide the flexibility to navigate any future economic scenario.
Source and photo: Vår Energi