Vår Energi $VAR (+1.32%) announces the completion of the appraisal well with two production tests on the Zagato structure in the Goliat Ridge field in the Barents Sea, confirming the quality of the reservoir and increasing the recoverable volumes.
confirmed the quality of the reservoir and increased the recoverable volumes.
The well was drilled approximately seven kilometers northeast of the Goliat field operated by Vår Energi. The production tests confirmed the good quality of the reservoirs and an oil quality similar to that of the Goliat field.
The most recent well tested two intervals, each with maximum flow rates of more than 4000 barrels of oil per day, confirming the quality of the reservoir.
confirming the quality of the reservoir.
Torger Rød, COO of Vår Energi, said:
This success reinforces our confidence in the potential of the Goliat Ridge discovery and we see an opportunity to add significant additional resources
as tie-back projects to Goliat. The recent discoveries reinforce Vår Energi's position as a leading exploration company on the Norwegian Continental Shelf (NCS) and further strengthen our ability to sustain high-quality production of 350-400 thousand barrels of oil equivalent per day beyond 2030.
Vår Energi and its license partner Equinor $EQNR (+2.37%) have drilled a total of five wells and one sidetrack well in the area. Including the latest well, the Goliat Ridge
is estimated to contain a total of 35 to 138 million barrels of oil equivalent (mmboe) of discovered recoverable resources, with additional potential resources increasing the total potential to over 200 mmboe.
A tie-in to the nearby Goliat FPSO is planned, with first production targeted for 2029.
production is targeted for 2029.
Vår Energi was recently awarded a license for an area adjacent to the Goliat field as part of the 2025 Awards in Predefined Areas (APA), which provides
additional prospects in line with the Goliat Ridge discovery.
