July 26 (LNGJ) - Vår Energi ASA, a player in the Norwegian oil and natural gas sector and majority-owned by Italian major Eni, reported cash flow from operations in the second quarter of $1.53 billion versus $1.31Bln in the prior-year quarter. The company operates four fields on the Norwegian Continental Shelf, located in the Barents Sea, the Norwegian Sea and the North Sea. In addition to the operated fields, Vår Energi currently holds ownership interests in 32 partner-operated fields.
“The continued strong cash flow generation reflects another quarter of safe and efficient operations with high commodity prices and stable production and supply of gas to our customers in Europe,” said Chief Executive of Vår Energi Torger Rød. “This supports our commitment to deliver on our strategy and a $1Bln minimum dividend expectation for 2022,” added the CEO. “Second-quarter production was impacted by seasonally high maintenance and turnaround activity across our own and partner-operated licences,” he added.
