Vår Energi ASA has confirmed an oil discovery within the operated Countach appraisal nicely close to the Goliat area within the Barents Sea.
The preliminary estimated gross recoverable sources encountered within the nicely are between 4 million and 25 million barrels of oil equal (MMboe), bringing the overall estimated recoverable sources within the Countach discovery to 10 to 55 MMboe, Var Energi mentioned in a information launch. The corporate operates the license with a 65 p.c stake, whereas Equinor ASA owns the remaining 35 p.c.
The corporate added that the invention confirms the potential of the Goliat Ridge, the place further gross potential recoverable sources of over 100 MMboe will probably be assessed with the deliberate drilling program in 2025.
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Var Energi said that the appraisal nicely was drilled following the Countach discovery of three to 13 MMboe introduced in 2023, which is positioned about eight miles (13 kilometers) northeast of the Goliat floating manufacturing, storage and offloading unit (FPSO). The outcomes from the nicely enhance the estimated gross recoverable sources for the invention to between 10 and 55 MMboe.
Along with encountering oil within the Kobbe formation with good reservoir high quality, an oil column of over 656 toes (200 meters) was encountered within the Klappmyss formation, “which regardless of being of poorer reservoir high quality, opens new alternatives within the deeper part of the Goliat ridge,” Var Energi mentioned. To help additional improvement of the Goliat space, the corporate mentioned it’s planning to accumulate new 3D and 4D seismic throughout 2025.
“It is vitally encouraging to find oil near the Goliat infrastructure and we’re excited concerning the potential further alternatives introduced within the Goliat ridge,” Var Energi COO Torger Rød mentioned. “Three extra wells are anticipated to be drilled in 2025, the Zagato North, Zagato South and Goliat North wells, focusing on comparable alternatives within the Goliat ridge between the Goliat area and the Countach discovery. The potential to unlock important further sources is appreciable, with the chance of being was excessive worth barrels by using obtainable manufacturing capability on the Goliat facility”.
Estimated further gross potential recoverable sources within the Goliat Ridge on the Zagato North, Zagato South and Goliat North prospects are estimated to exceed 100 MMboe. As compared, the unique plan of improvement and operations (PDO) for Goliat was based mostly on complete anticipated recoverable reserves of 176 million barrels of oil, underlining the importance of the Goliat Ridge alternative.
“The Countach discoveries reinforces Vår Energi’s place as a number one exploration firm on the Norwegian Continental Shelf (NCS) and within the Barents Sea. We’re dedicated to additional develop the Barents Sea as a strategically necessary petroleum province,” Rød remarked.
The Barents Sea is believed to carry half of the remaining undiscovered sources on the NCS, Var Energi famous. The Countach appraisal nicely is the primary nicely of the deliberate two-year drilling marketing campaign within the Barents Sea, a collaboration effort with Equinor, focusing on each infill manufacturing and exploration wells.
Vår Energi mentioned it plans to drill round 20 exploration wells within the Barents Sea area over a four-year interval, as a part of the Firm’s plan to maintain manufacturing at 350,000-400,000 thousand barrels of oil equal per day (boepd) in the long run.
In the meantime, Vår Energi has taken over operatorship of the Trudvang carbon dioxide (CO2) storage license within the North Sea.
The Trudvang storage licence is positioned within the North Sea, east of the Sleipner area, the place CO2 has been safely saved within the Utsira formation for over twenty years. The transaction and switch of operatorship is contingent upon authority approval.
The Trudvang storage license has the potential to retailer as much as 9 million metric tons of CO2 yearly for not less than 25 years, a complete of 225 million metric tons, “with indications that the storage potential could possibly be even greater,” Var Energi mentioned in a separate assertion.
Rod mentioned, “We’re happy to safe our second operatorship of a CO2 storage license in Norway and want to discover the likelihood to ascertain viable and industrial enterprise fashions along with companions and related stakeholders. The North Sea has nice potential to grow to be a hub for carbon storage, given the proximity to CO2 emitters and the geology which is appropriate for carbon storage”.
The license companions within the Trudvang storage license after the completion of the transaction will probably be Vår Energi CCS AS with 40 p.c curiosity, INPEX Idemitsu Norge AS with 30 p.c, and Storegga Norge AS with 30 p.c.
To contact the writer, e mail rocky.teodoro@rigzone.com
