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Eni announces the completion of the merger of Point Resources AS and Eni Norge AS – an associate of Eni S.p.A. – resulting in the creation of Vår Energi, an independent leader in the exploration and production of hydrocarbons in Norway.
San Donato Milanese (Milan), 12 December 2018 – Eni announces the completion of the merger of Point Resources AS and Eni Norge AS – an associate of Eni S.p.A. – resulting in the creation of Vår Energi, an independent leader in the exploration and production of hydrocarbons in Norway. The merger took place after the pending conditions were met, among them having secured a third party financing of $3 billion non-recourse to sponsors and after receiving regulatory approvals
Owned 69.6% by Eni and 30.4% by HitecVision, Vår Energi has about 800 employees and 17 oil and gas fields with a wide geographical coverage, from the Barents Sea to the North Sea. Production in 2018 is estimated at 170,000 barrels of oil equivalent per day (boepd) and the company has reserves and resources of more than 1,250 million barrels of oil equivalent (Mboe). Production from existing fields is expected to reach 250,000 boepd by 2023.
HSE performance, project delivery and production efficiency will be priority areas for management, led by Kristin F. Kragseth, CEO, and Philip D. Hemmens, Chairman of the Board.
The creation of Vår Energi AS is a major step forward in the strategy to reinforce Eni’s presence in OECD countries with further upstream potential.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
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Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
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Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
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