Norwegian independent Vaar Energi said today it is on track for a significant increase in production by the end of 2025 on the back of several major projects under construction.

The Stavanger-headquartered company said in its second-quarter report that it is on target to become a net producer of 350,000 barrels of oil and gas equivalent per day by the end of 2025.

That compares to its full-year 2022 production guidance of between 230,000 and 245,000 boepd.