Var looks at IPO
The Norway-focused IOC/private equity company is mulling a flotation
Italy’s Eni and Point Resources, a portfolio company of Norwegian private equity (PE) firm Hitec Vision, will initiate a strategic review regarding the future ownership structure of their Norwegian continental shelf (NCS) production joint venture Var Energi. The review will consider various alternatives to “better pursue future growth and maximise value creation”, including a possible IPO. Eni owns 69.85pc of Var, while Point holds the remaining 30.15pc. Whatever the outcome of the review, the Italian firm says it intends to retain a majority stake, while preserving equity accounting. Var was established in 2018 through the merger of Eni’s NCS business and independent producer Point. The lat
Also in this section
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing