Fossil Energy – Interest Disposal
Vår Energi has signed an agreement with Concedo for the disposal of a 20% interest in the Bøyla field for a consideration of USD 24 million.
“The transaction is aligned with our stated ambition to dispose of non-strategic assets to optimise our portfolio of assets; reducing our operating costs and emission outlook and enhance future value creation,” says Stefano Pujatti, CFO of Vår Energi.
The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter 2024, with effective date 1 January 2024. Concedo will assume full decommissioning liabilities for the acquired field. The transaction does not impact Vår Energi’s previously announced production guidance for 2024, year-end 2025 and beyond.
