Halliburton, Vår Energi form drilling partnership to improve Norwegian exploration, production
(WO) – Vår Energi and Halliburton intend to enter a long-term strategic relationship for drilling services to further improve drilling and well performance and enhance value creation. The planned relationship covers drilling services related to exploration and production drilling for Vår Energi across the entire Norwegian Continental Shelf (NCS).
The planned relationship has a duration of five years with options for an additional four years in total.
Ingrid Sølvberg, Vår Energi EVP Technology, Drilling and Subsurface said, “We are on track to deliver on our end-2025 production target, an increase of more than 50% from today’s level. Combined with our proven best-in-class exploration capabilities, teaming up with Halliburton will be a key enabler in meeting our ambitious long-term growth targets. Collaboration with strong partners will be a driving force in technology development, contribute to reducing costs and emissions, while also improving efficiency and HSE performance.”
Vår Energi’s activities span the entire NCS with a diversified portfolio of 158 licenses and 39 producing fields. Drilling activities are focused around four strategic hubs in the Balder/Grane area, the North Sea, the Norwegian Sea and the Barents Sea.
The plans for a strategic relationship between Vår Energi and Halliburton build on the already established one-for-all and all-for-one model and represents incentives to work as an integrated team toward common goals. Succeeding together through close end-to-end collaboration and standardization of the supply chain are key elements to this principle.
“Halliburton has extensive experience and proven capabilities from operations in Norway over many years. Halliburton’s value proposition – to collaborate and engineer solutions to maximize asset values for our customers – fits perfectly with Vår Energi’s ambitious growth plans,” said Halliburton Chairman, President, and CEO Jeff Miller.