Vaar Energi has made a new oil discovery at the Goliat Nord appraisal well in the Goliat oilfield, located in Norway's Barents Sea. This discovery is part of a broader, recently uncovered geological area known as the Goliat Ridge.

Discovery Details and Resource Estimates

The Goliat Nord well encountered between 2.5 million and 5 million barrels of oil equivalent in recoverable resources. This discovery follows a series of successful wells on the Goliat Ridge, including the Countach discovery, its appraisal, the Zagato discovery, and a successful appraisal of Zagato. Vaar Energi has previously indicated that these three initial discoveries on the ridge collectively hold a gross estimated recoverable resource with a high case of 100 million barrels of oil equivalent.

Development and Operations

The Goliat Nord well was drilled using the semi-submersible drilling rig COSL Prospector. Vaar Energi, as the operator, is evaluating the possibility of connecting the Goliat Ridge discoveries to the existing infrastructure via a tie-back to the nearby Goliat floating production, storage and offloading (FPSO) vessel.

Partnership

The Goliat Field is operated through a partnership, with Vaar Energi holding a 65% stake and Equinor holding the remaining 35%.