Var Energi has acquired ExxonMobil's remaining Norwegian upstream assets, on 10 December 2019. Var now assumes ExxonMobil's previous equity in 35 licences (3 operated), including Snorre, Grane, Ormen Lange, Tyrihans, Mikkel, Fram, Asgard, Trestakk, Statfjord, and Sleipner fields. Net reserves were 420 MMboe at end 2018, with average 2018 production of 96,000 bo/d and 374 MMcfg/d. The deal was first announced on 26 September 2019, valued at US$ 4.5 billion, and effective from 1 January 2019. ExxonMobil confirmed it was considering a full divestment of its Norwegian assets in June 2019, and opened a data room for interested parties. Var Energi is a joint venture between Eni (69.6%) and HitecVision (30.4%), created in December 2018 by merging Eni Norge with HitecVision-owned Point Resources. ExxonMobil sold most of its operated Norwegian assets to Point Resources in November 2017, including Balder, Ringhorne, Ringhorne Ost, Forseti & Jotun fields, with estimated net reserves and contingent resources of 350 MMboe and 54,000 boe/d net production. 
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