Vår Energi’s exploration program in the Barents Sea continues to bear fruit. The company has confirmed a new oil discovery in the Goliat North well, located just five kilometers north of the Goliat field, where the floating FPSO Goliat unit is already operating.
New oil discovery in key formations
The exploration well encountered hydrocarbons in the Realgrunnen and Kobbe formations. Initial estimates point to about 5 million barrels of recoverable oil equivalent, reinforcing the productive potential of the area.
This well is part of the appraisal program in the Goliath Ridge, a region where Vår Energi, in partnership with Equinor, plans to drill up to four wells. Drilling is currently underway on Zagato, a sidetrack in the same area.
Once all drilling is completed, the company will analyze the full potential of the mountain range using acquired data and new 3D seismic logs.
Estimated reserves in excess of 200 million barrels
With the discovery in Goliat North, the resources discovered in the region are estimated to range from 39 to 108 million barrels equivalent. Adding additional prospective resources, the volume could rise to 200 million barrels.
The development envisages connecting the new fields with the nearby FPSO Goliath floating infrastructure, which would reduce costs and accelerate production start-up.
Vår Energi leads the license with a 65% stake, while Equinor holds 35%. This find strengthens the presence of both companies in northern Norway and underscores the role of the Barents Sea as a key hub for the country’s offshore oil production.
Source and photo: Vår Energi