Vår Energi Concludes Intra-Group Merger

Tuesday, June 11, 2024

Vår Energi has completed the intra-group merger with its wholly-owned subsidiary Vår Energi Norge, formerly Neptune Energy Norge.

The merger has been registered with the Norwegian Register of Business Enterprises, and consequently all assets, rights and obligations of Vår Energi Norge have been transferred to Vår Energi.

No merger consideration was payable and Vår Energi's registered share capital remains unchanged, the company said.

Vår Energi, a majority-owned by Italy’s Eni, completed the acquisition of Neptune Energy and its entire portfolio of oil and gas assets earlier in 2024. Since, Neptune Norway operated as a fully-owned subsidiary of Vår Energi under the name of Vår Energi Norge.

With the acquisition, Vår Energi became second largest independent E&P company on the Norwegian Continental Shelf (NCS) and the second largest supplier of gas from Norway to Europe.

Vår Energi took over ownership in 12 producing assets, three of which are operated by Neptune Norway and seven by Equinor, further strengthening its partnership with the Norwegian energy major.

Categories: Mergers & Acquisitions Industry News Activity Europe Oil and Gas

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