Vår Energi reports net income of $25m in Q4 2025

Norwegian lipid and state institution Vår Energi has reported nett income of $25m for the 4th fourth of 2025 (Q4 2025), compared to a nett nonaccomplishment of $175m for the aforesaid play successful 2024.

The company’s net earlier interest, taxes, depreciation and amortisation (EBITDA) for the 4th accrued by 57.2%, rising from $1.15bn to $1.8bn year-over-year (YoY).

Vår Energi’s full income for the 4th was $2.2bn, a 32% summation compared to $1.6bn successful the aforesaid 4th of 2024.

In presumption of production, Vår Energi achieved 397,000 barrels of lipid equivalent per time (boepd) successful Q4 2025, up from 278,000boepd successful Q4 2024, aided by the ramp-up of the Jotun floating production, retention and offloading portion and reduced attraction activities.

Oil accumulation roseate from 159,000boepd to 259,000boepd implicit the aforesaid period, up 62.9%.

Gas accumulation accrued from 101,000boepd successful Q4 2024 to 117,000boepd successful Q4 2025, a 15.8% increase.

NGL accumulation besides grew from 18,000boepd to 21,000boepd, up 16.7%.

Total income volumes besides accrued importantly from 22.7 cardinal barrels of lipid equivalent (mboe) to 35.3mboe implicit the aforesaid period.

Net nett for the afloat twelvemonth 2025 climbed to $846m from $327m, starring to net per stock of $0.31 against $0.11 successful the erstwhile year.

EBITDA for the afloat twelvemonth grew by 11.1% to $6.3bn from $5.7bn. For the afloat twelvemonth 2025, Vår Energi’s full income roseate to $8.1bn from $7.4bn successful 2024.

The company's mean accumulation complaint for 2025 was 332,000boepd, somewhat beneath its guidance scope of 330,000–360,000boepd owed to delays and operational issues astatine the Johan Castberg field.

Despite these challenges, Vår Energi launched 9 maturation projects during the year, adding astir 180,000boepd astatine highest accumulation levels and enhancing operational ratio to 92%.

Looking forward, Vår Energi plans to prolong its maturation trajectory with a projected accumulation scope of 390,000–410,000boepd for 2026 and ongoing developments crossed 13 projects targeting astir 210mboe successful nett reserves, with breakeven costs adjacent $30 per tube of lipid equivalent and an interior complaint of instrumentality supra 30%.

The institution besides aims to research up to 12 wells successful 2026 arsenic portion of its continued exploration strategy.

Capital expenditure (capex) is forecasted betwixt $2.5bn and $2.7bn for 2026, with an mean yearly capex of $2.5bn anticipated from 2027 done 2032 arsenic Vår Energi focuses connected unlocking semipermanent worth done strategical investments and task developments.

Vår Energi CEO Nick Walker said: “We are pleased to person delivered transformational maturation successful 2025, doubling accumulation successful conscionable 2 years.