Vår Energi has agreed to swap North Sea assets with Equinor, acquiring a 32.5% interest and operatorship of the Peon gas discovery while divesting minority stakes in the Fram field and Grosbeak discovery. Peon, located about 60 kilometers northwest of the Gjøa field, is among the largest undeveloped gas discoveries on the Norwegian Continental Shelf, with estimated recoverable resources of between 105 million and 195 million barrels of oil equivalent. Vår Energi plans to develop Peon as a subsea tie-back to the Gjøa production facilities, extending the hub's economic life to around 2045. Production from Peon is anticipated to begin around 2030, contributing toward the company's long-term goal of producing more than 400,000 barrels of oil equivalent per day. The transaction remains subject to customary regulatory approvals, including approval for the transfer of operatorship.
Var Energi ASA NOKAcquires 32.5% interest and operatorship of Peon gas discovery, expanding Gjøa hub and extending economic life.
Equinor ASA ADRSwaps assets with Vår Energi, divesting Peon but acquiring stakes in Fram and Grosbeak; net impact unclear.
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