Vår Energi delivers successful well test results at the Goliat Ridge

Vår Energi ASA has completed appraisal drilling and well testing at the Goliat Ridge discovery in the Barents Sea, with results that confirm high-quality reservoir characteristics and additional recoverable volumes. These outcomes strengthen the company’s ability to advance tie-back development opportunities and sustain long-term production in a competitive North Sea and Barents Sea environment.

Appraisal Well Testing Validates Reservoir Quality
The recent appraisal well drilled on the Zagato structure, located approximately seven kilometres northeast of the Vår Energi–operated Goliat field, underwent two separate production tests. Both intervals demonstrated maximum flow rates exceeding 4 000 barrels of oil per day, indicating reservoir quality comparable to that of the adjacent Goliat field. Confirming both reservoir deliverability and favourable fluid characteristics is critical for making informed development decisions and reducing subsurface uncertainty.

Implications for Resource Development and Competitive Differentiation
The appraisal results underpin Vår Energi’s strategy to leverage existing infrastructure and reduce development costs through tie-back projects to the Goliat floating production, storage and offloading (FPSO) unit. By validating reservoir performance at Goliat Ridge, the company enhances its competitive advantage relative to peers exploring remote or technically less certain prospects on the Norwegian Continental Shelf (NCS). Efficient utilisation of existing hubs and infrastructure reduces project risk and accelerates time to first production compared with stand-alone developments.

Independent assessments estimate the Goliat Ridge discovery contains gross recoverable resources in the range of 35 to 138 million barrels of oil equivalent (mmboe), with additional prospective volumes that could increase total gross potential beyond 200 mmboe. Confirmed reservoir quality combined with such resource potential positions the project as a material contributor to Vår Energi’s production portfolio.

Strategic Value on the Norwegian Continental Shelf
In the context of exploration and development on the NCS, rigorous well testing and reservoir evaluation provide a basis for making high-confidence investment decisions. By confirming deliverability and fluid characteristics early in the appraisal phase, Vår Energi can prioritise resources toward projects with clearer pathways to production. This approach reduces the relative risk profile of its portfolio compared with competitors that may face higher technical uncertainty or infrastructure constraints.

Overall, the successful Goliat Ridge well tests support Vår Energi’s objective to sustain high-value production levels while advancing development opportunities that make efficient use of existing facilities on the NCS.

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