Sandnes, Norway, 23 September 2025: Production from the Equinor operated
Askeladd West field in the Barents Sea has commenced. Askeladd West will be an
important contributor in maintaining the production plateau of the Snøhvit
field.

The Askeladd West subsea gas field is an important step in the continued
development of the Snøhvit field. Thie highly profitable project adds gross
recoverable reserves of about 15 billion standard cubic metres of gas and will
ensure full capacity utilisation of the Hammerfest LNG plant in the years to
come.

COO in Vår Energi, Torger Rød, said:

"We congratulate Equinor with the safe and successful start-up of Askeladd West.
The field will contribute with reserves of around 11 million barrels of oil
equivalent net to Vår Energi, and further enhances our position as a key player
in the Barents Sea. Norway is a key provider of gas to Europe, and Vår Energi
plays a significant role in this, as one of the country's largest exporters of
gas".

Askeladd West consists of two wells in a new subsea template tied back to the
Snøhvit field.  The field is produced through Hammerfest LNG, the only plant in
Northern Europe producing and exporting liquified natural gas. The plant
produces 6.5 billion standard cubic metres of gas each year. This is the
equivalent of about five per cent of Norway's total gas exports, and about two
per cent of the EU's gas demand.

Equinor Energy AS is operator (36.79%) of Askeladd West, with Vår Energi (12%),
Petoro AS (30%), Total E&P Norge AS (18.40%) and Harbour Energy Norway AS
(2.81%) as partners.

Photo: Øyvind Gravås and Jonny Engelsvoll / Equinor

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 905 09 291
ida.fjellheim@varenergi.no

Media
Liv Jannie Omdal, VP Communications
+47 97667137
liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø.