Vår Energi ASA has found oil within the Zagato exploration effectively close to the Goliat discipline within the Barents Sea.
The preliminary estimated gross recoverable assets encountered within the effectively are between 15 million and 43 million barrels of oil equal (MMboe), the corporate mentioned in a information launch.
The invention comes after the Countach discoveries introduced final yr, and brings the overall gross estimated recoverable assets doubtlessly as much as round 100 MMboe, the corporate mentioned. The discoveries proceed to display the potential of the Goliat Ridge, with estimated gross found and potential recoverable assets rising to above 200 MMboe, Var Energi added.
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The Zagato discovery is situated 5 miles (8 kilometers) northeast of the Goliat floating manufacturing, storage and offloading unit (FPSO), one in every of Vår Energi’s core areas on the Norwegian Continental Shelf. The Goliat ridge consists of a sequence of adjoining fault-bounded prospects subsequent to the Goliat discipline, in line with the discharge.
The three wells drilled to this point on the Goliat ridge, Countach, Countach appraisal and Zagato, have efficiently found hydrocarbons in separate fault blocks, which considerably de-risks the prospectivity within the undrilled areas, the corporate mentioned. The great high quality reservoirs discovered within the exploration wells are much like these within the producing Goliat discipline, it famous.
Var Energi COO Torger Rød mentioned, “The Zagato discovery reinforces Vår Energi’s place as a number one exploration firm on the Norwegian Continental Shelf (NCS). Shut proximity to current infrastructure offers alternative for a quick observe, low emission, cost-efficient growth using obtainable capability on the Goliat FPSO, including excessive worth barrels. With extra wells being drilled this yr, we see a chance to unlock vital extra assets as tie-back tasks to Goliat. The current discoveries proceed to strengthen Vår Energi’s skill to maintain excessive worth manufacturing of 350-400 [thousand barrels of oil equivalent per day] within the longer-term”.
To finish the remaining potential delineation and speed up the progress to growth research, Var Energi plans to execute a brand new 3D and a 4D seismic survey through the summer time, accompanied by the drilling of two additional exploration/appraisal wells beginning across the finish of the third quarter.
Vår Energi is the operator of the asset with a 65 % stake, whereas Equinor owns the remaining 35 %. The Countach appraisal and Zagato wells are a part of the deliberate two-year drilling marketing campaign within the Barents Sea, a collaboration effort with Equinor concentrating on each infill manufacturing and exploration wells.
In whole, Vår Energi plans to drill round 20 exploration wells within the Barents Sea area over a four-year interval. After finishing work at Zagato, the rig shall be used to drill infill wells on the Goliat discipline earlier than returning to the Goliat Ridge later within the yr.
Final month, Vår Energi ASA introduced it elevated its reserves and useful resource base to 2.1 billion barrels of oil equal (boe).
The reported worth was the sum of its proved and possible (2P) reserves and contingent assets (2C), as printed in its annual assertion of reserves for 2024. As of December 31, 2024, Var Energi’s whole 2P reserves have been estimated at 1.19 billion boe.
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