Vår Energi ASA is a leading independent upstream oil and gas company operating on the Norwegian Continental Shelf. Formed in December 2018 through the merger of Eni Norge AS and Point Resources AS, it... Vår Energi ASA is a leading independent upstream oil and gas company operating on the Norwegian Continental Shelf. Formed in December 2018 through the merger of Eni Norge AS and Point Resources AS, it traces its roots to 1965 and functions as a subsidiary of Eni International B.V. The company specializes in the exploration, development, and production of crude oil, natural gas, liquefied natural gas, and natural gas liquids across a flexible portfolio spanning mature fields, ongoing projects, and exploration opportunities in all four NCS hubs. With equity stakes in approximately 50% of producing assets on the shelf, Vår Energi ASA ranks as the third-largest oil and gas producer in Norway and one of the largest gas exporters to Europe, operating 41 fields and employing around 1,400 people across offices in Sandnes, Hammerfest, Florø, and Oslo. Key assets include the Goliat field in the Barents Sea and interests in major fields like Grane, Snorre, and Fram, bolstered by strategic acquisitions such as ExxonMobil's Norwegian upstream assets in 2019 and Neptune Energy Norge AS in 2024. Headquartered in Sandnes, it plays a vital role in Europe's energy security through reliable hydrocarbon supply while pursuing sustainability initiatives like carbon capture and storage.
In 2024, Var Energi was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.
The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.
Var Energi has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of Var Energi are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.
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2024
2023
2022
2021 - 2017
Total Taxonomy Aligned Turnover
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Total Taxonomy Eligible Turnover
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2024
2023
2022
2021 - 2017
Total Taxonomy Aligned Opex
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Total Taxonomy Eligible Opex
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4.3 CCM/CCA - Electricity generation from wind power
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Metric
2024
2023
2022
2021 - 2017
Total Taxonomy Aligned Capex
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Total Taxonomy Eligible Capex
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4.3 CCM/CCA - Electricity generation from wind power
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Limited Data Preview
You are viewing a limited preview of Var Energi’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories, at both aggregate and activity level, with historical coverage back to undefined.
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Verified Sources Behind Var Energi’s EU Taxonomy Data
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a. Var Energi's Annual Report 2024
b. Var Energi's Annual Report 2023
Insights into Var Energi's Revenues from Sustainable Activities
In 2024, Var Energi reported EU Taxonomy-eligible revenues of USD 0, representing 0% of its total turnover. Of this amount, USD 0 of Var Energi's revenues was classified as EU Taxonomy-aligned, indicating that 0% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Insights into Var Energi's CAPEX from Sustainable Activities
In 2024, Var Energi reported EU Taxonomy-eligible CAPEX of USD 15.37 million,representing 0.4% of its total CAPEX. Of this amount, USD 1.06 million of Var Energi's CAPEX was classified as EU Taxonomy-aligned, indicating that 0% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Var Energi's Taxonomy-Eligible Capex Over Time
Total Taxonomy Eligible Capex
Total Taxonomy Aligned Capex
Have Var Energi's increased its investment in sustainable activities over time?
Compared to the previous year (2023), Var Energi's taxonomy-aligned CAPEX decreased by 100%,suggesting that Var Energi may have scaled back investments in sustainable projects, reprioritized its capital deployment, or reduced transparency in its taxonomy-aligned disclosures.a, b
Var Energi's Contribution to Environmental Objectives
How is Var Energi's taxonomy-aligned CAPEX distributed across the EU environmental objectives?
In 2024, Var Energi reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 0%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much Var Energi is investing in climate-related solutions?
In 2024, Var Energi allocated USD 0 of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 0% of the company's total capital expenditure,indicating that Var Energihas only marginally directed its capital expenditure toward climate-related activities, suggesting limited alignment with climate objectives.a
Insights into Var Energi's OPEX from Sustainable Activities
In 2024, Var Energi reported EU Taxonomy-eligible OPEX of USD 1.31 million,representing 0.4% of its total operating expenses (OPEX). Of this amount, USD 1.31 million of Var Energi's OPEX was classified as EU Taxonomy-aligned, indicating that 0.4% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
How much of Var Energi's operational expenditure (OPEX) is eligible under the EU Taxonomy?
In 2024, Var Energi reported that USD 1.31 million of its operational expenditure (OPEX) was eligible under the EU Taxonomy, representing 0.4% of the company's total OPEX. Of this amount, USD 1.31 million (0.4% of total OPEX) was classified as Taxonomy-aligned. This means that 0% of Var Energi's OPEX is eligible but not aligned, indicating that these expenditures either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of Var Energi's eligible OPEX is aligned with the EU Taxonomy?
In 2024, Var Energi reported that USD 1.31 million of its OPEX was aligned under the EU Taxonomy, representing 0.4% of its total operational expenditure.a
This low alignment reflects limited operational focus on green activities, suggesting that sustainability considerations have yet to be fully integrated into core operating processes.
Var Energi's Eligibility & Alignment Overview
Var Energi's Contribution to Environmental Objectives
Total Taxonomy Aligned Opex
How is Var Energi's taxonomy-aligned OPEX distributed across the EU environmental objectives?
In 2024, Var Energi reported that its taxonomy-aligned operational expenditure (OPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 0.4%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much of Var Energi's operational budget supports climate-related solutions?
In 2024, Var Energi allocated USD 1.35 million of its OPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 0.4% of the company's total OPEX,indicating that Var Energihas only a limited share of operational expenditure aligned with climate goals, signaling early-stage or minimal integration of climate objectives into its routine activities.a
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b
a