Neptune Norway's Asset Portfolio Integration
Consistent with Vår Energi's shareholder value creation framework
Efficient and highly cash-generative assets...
Resilient low-cost portfolio
with production cost of USD ~9 per boe¹
Limited near-term growth capex
as Njord, Fenja and Bauge developments started
production in 1H 2023
...strengthening future dividend capacity
High-value production
growth to >350 kboepd
by end-2025
Investment Grade
balance sheet
Attractive early-phase projects and exploration
including Dugong, Blasto and Echino South and numerous
exploration prospects around existing hubs
Material dividends
with policy to distribute
20-30% of CFFO after tax
14
1. Source: Neptune group
2. In real 2021 terms
$
$
Low-cost barrels with
ambition to reach
USD 82 per boe
Resilient free cash
flow generation
vår energiView entire presentation