Norway’s Vår Energi has announced the acquisition of BlueNord to create Europe’s largest independent oil and gas producer (Vår Energi press release, 21/07/2026).
Vår Energi, majority-owned by Italy’s Eni, is currently focused on Norwegian oil and gas production, while BlueNord’s assets are located on the Danish continental shelf (DCS). The combined group will target long-term production of approximately 450 kboe/d, according to Vår Energi.
The transaction will create a company with approximately 2.4 Gboe of reserves and resources, with a reserves and resources life of around 15 years. The group will maintain a balanced oil and gas production mix of approximately 65% oil and 35% gas. The closing of the transaction is expected around end-2026.