Vaar Energi has leapfrogged up the rankings in Norway to become the country’s second-biggest exploration and production player behind Equinor with its transformational $4.5 billion acquisition of ExxonMobil’s non-operated assets.
The company, jointly owned by Italy’s Eni and Norwegian private equity fund HitecVision, will nearly double its output to 300,000 barrels of oil equivalent per day this year under the cash transaction to acquire stakes in more than 20 producing fields.
