Vår Energi puts collaboration in the spotlight for upcoming subsea contract award

Norwegian oil and gas company Vår Energi has developed a new collaboration model for suppliers of subsea equipment ahead of a new fabrication and installation contract for its entire operated portfolio.

The ongoing tender for the new contract facilitates for suppliers to deliver joint solutions in a three-party cooperation.

The approach is in contrast to the more traditional model with several separate sub-contracts, Vår Energi said.

According to the Norwegian company, the new model, which seeks broader, long-term and more open collaboration between suppliers and operators, reduces costs, increases efficiencies, and has environmental benefits.

The contract for the fabrication and installation of subsea equipment is scheduled to be announced during the first quarter of 2022. 

“We believe strategic cooperation between suppliers will lead to improved and more efficient end-solutions. Early involvement in projects secure more efficient planning and implementation,” said Annethe Gjerde, VP Procurement and Contracts at Vår Energi. 

“We also believe that the model will provide added value for all parties, as well as contribute to a sustainable development.”

In the coming years, Vår Energi is expecting a high level of activity with new discoveries in the North Sea and the Barents Sea creating opportunities for the supplier industry.

Vår Energi recently revealed its aim to be climate neutral in Scope 1 and 2 activities by 2030, which implies net-zero greenhouse gas emissions from all 35 producing oil and gas fields where it is operator or partner.

The goal also includes emissions from all emergency response and supply vessels and oil tankers to be reduced to net-zero by 2025 (Scope 3).

Just a few days ago, the Norwegian company announced it plans to launch an initial public offering (IPO) and listing of shares on Oslo Børs in a bid to access the Norwegian and international capital markets and diversify ownership structure.