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Vår Energi Makes Final Investment Decision on North Sea Projects

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Vår Energi (VAR.OL) made a final investment decision on the Gjøa Subsea Projects in the North Sea and filed a development and operations plan with Norway's Ministry of Energy.

The project comprises the development of the Ofelia, Gjøa Nord and Cerisa discoveries with tie-backs to the Gjøa and Duva infrastructure, according to a Thursday release. The energy company holds a 40% working interest in Ofelia and 30% each in Gjøa Nord and Cerisa. It also serves as the operator of the three discoveries.

First production from Cerisa is expected in the third quarter of 2027. Ofelia and Gjøa Nord are expected to commence production in the second half of 2028.

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