Vår Energi strengthens its executive management team to reaffirm its strategic ambitions

Vår Energi has announced adjustments to its executive management team and reaffirms its strategic ambitions.

Vår Energi’s recent acquisition of Neptune Energy Norge will accelerate the company’s position as a leading E&P independent in Norway. Vår Energi is currently the third largest operator on the Norwegian Continental Shelf and the acquisition will further scale, diversify and strengthen its growth and value creation.

In response to these new opportunities, the board has decided to make certain adjustments to the management group and bring on more resources. “We are very pleased to announce that Nick Walker will be joining Vår Energi as CEO and also that our current CEO, Torger Rød, transfers to the new role as COO,” says Thorhild Widvey, Chair of the Board.

Walker most recently held the position as CEO of the leading European E&P independent Lundin Energy until mid-2022 when it was acquired by Aker BP, and has previously worked with BP, Talisman Energy, Africa Oil and Vedanta – Cairn Oil & Gas. He has 30 years of international experience in technical, commercial, and executive leadership roles. He will spear-head the company’s strategy, market engagement and stakeholder management. He will take up the CEO position with effect from 5 September 2023.

Nick Walker comments: “I have followed closely the impressive development of Vår Energi in recent years and have great respect for the company’s strong track-record and operational heritage on the NCS. I welcome this opportunity to lead the company through its next growth phase and deliver on the strategy – which remains firm.”

Widvey continues: “Torger Rød has led the company through a transformative phase and has achieved strong operational and financial results, including a very successful IPO, the mentioned Neptune acquisition, strengthening of the organisation, while also delivering on strategic ambitions. He will now deploy his deep operational competencies and understanding of the organisation in the role as COO to continue driving improvement, integration and transformation of the company”.