Dry well in the Norwegian Sea

Dry well in the Norwegian Sea

15 Jun 2022 08:26 CEST

Sandnes, Norway, 15 June 2022: Vår Energi ASA (OSE: VAR) confirms drilling
operations on the Ormen Lange Deep well in PL209 has been concluded. The primary
objective of the well was to prove petroleum in the Turonian Lange formation,
with a secondary target in the Coniacian Lysing formation.

No producible reservoir was observed, and the well is classified as a dry well.
The well was not formation-tested, and no formation fluid samples was extracted.
Total depth was set at vertical depth of 4320 meters below sea level in the
Shetland Group. The well will be permanently plugged and abandoned.

Vår Energi ASA holds a 10% share in license PL209, with Equinor (operator; 40%),
Shell (15%) and Petoro (35%) and PGNiG (14.0%).

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader and a net-zero
producer (Scope 1 and 2) by 2030.

Vår Energi has more than 900 employees and equity stakes in 36 fields producing
net 246,000 boe per day in 2021. We have our headquarters outside Stavanger,
Norway, with offices in Oslo and Hammerfest. To learn more, please visit
varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

[email protected]

Media relations

Andreas Wulff, Communication Manager

+47 92616759

[email protected]

This information is subject to the disclosure requirements pursuant to
regulation EU 596/2014 Article 19 and Section 5-12 the Norwegian Securities
Trading Act.

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Source

Vår Energi ASA

Provider

Oslo Børs Newspoint