Var Energi acquires Feistein CCS
SUMMARY
Feistein CCS is a company specialising in the maturation of CCS projects. [Image: Var Energi]
By Shardul SharmaPOSTED IN:
Var Energi, an independent oil and gas company operating on the Norwegian continental shelf (NCS), has acquired Feistein CCS, a company specialising in the maturation of CCS projects, it said on July 11.
“Technological development and investments in low-emission solutions is needed to support the pathway to net zero, and the acquisition of Feistein CCS accelerates our position and competence on CO2-storage,” Ingrid Solvberg, EVP technology, drilling & subsurface in Var Energi, said.
The company believes that CCS will play a key role in meeting global energy and climate goals and the NCS holds significant potential for carbon storage.
With over 1,000 employees and equity stakes in 39 fields, Var Energi is a significant player in the Norwegian energy sector. In 2022, the company produced a net 220,000 barrels of oil equivalent/day.
