Vår Energi Confirms Another Oil Discovery Near Goliat Field

Vår Energi has confirmed an oil discovery in the Goliat North exploration well, located five kilometres north of the producing Goliat field in the Barents Sea. The well intersected hydrocarbons in the Realgrunnen and Kobbe formations, with estimated gross recoverable resources of up to five million barrels of oil equivalent. While modest in size, the find reinforces Vår Energi’s strategy of incremental, infrastructure-led growth in an area where few operators have comparable operational scale or established production.

Advancing the Goliat Ridge Appraisal Programme
The discovery is part of an ongoing four-well appraisal programme designed to clarify the overall potential of the Goliat Ridge. Drilling operations include the ongoing Zagato sidetrack, and the full dataset will be integrated with recently acquired 3D seismic to refine the geological model. This systematic approach differentiates Vår Energi and its partner Equinor by combining near-field exploration with a comprehensive subsurface evaluation aimed at rapid, low-cost commercialisation.

Growing Resource Base with Tie-Back Potential
With the addition of Goliat North, the Goliat Ridge now holds an estimated 39 to 108 million barrels of discovered resources. Including prospective volumes, the total gross potential for the area could reach up to 200 million barrels. Proximity to the existing Goliat FPSO enables straightforward tie-back solutions, strengthening the economic case and reducing development time compared with standalone offshore projects.

Strategic Positioning in the Barents Sea
The licence, operated by Vår Energi with a 65 percent interest alongside Equinor’s 35 percent, underscores the company’s role as a leading developer in the Barents Sea. By focusing on resource clusters that can be efficiently connected to operating infrastructure, Vår Energi reinforces its competitive edge in Norway’s northernmost basin, where cost control, execution capability and operational presence are key differentiators.

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