Var-Energi-keeps-discovery-streak-alive-in-Barents-Sea

Vår Energi keeps discovery streak alive in Barents Sea

Norway

SANDNES, February 28, 2025 – Norwegian independent oil and gas company Vår Energi has made its third consecutive oil discovery in the Goliat ridge, in the Norwegian sector of the Barents Sea, the company announced on Thursday.

Vår Energi’s Zagato exploration well encountered between 15 million-43 million boe, adding to the 2024 discoveries made in the Countach and Countach appraisal wells and bringing total gross estimated recoverable resources in the area to a high case of around 100 million boe.

“This discovery reinforces Vår Energi’s position as a leading exploration company on the Norwegian Continental Shelf. Its proximity to existing infrastructure provides opportunities for a fast track, low emission, cost-efficient development utilising available capacity at the Goliat FPSO, adding high-value barrels,” said Torger Rød, Vår Energi’s COO.

The Zagato discovery is located around 8 kilometres northeast of the Goliat FPSO. Together with the Countach appraisal well, it is part of an ongoing two-year exploration campaign that Vår Energi is carrying out with Equinor, which foresees drilling around 20 additional wells in the area over the next four years.

To accelerate the progress of development studies, Vår Energi will acquire new 3D and 4D seismic surveys during the summer of 2025 and will drill two further exploration wells towards the end of Q3 2025.

Photo of Goliat FPSO by Marthe Nyvoll / © Vår Energi