Vår Energi and its partners have announced a gas discovery in the Elgol prospect within the Barents Sea.

The find was made at exploration well 7122/9-2, marking the first exploration activity in production licence 1131 since it was awarded in 2021.

The preliminary estimates suggest the discovery could contain between 2.6 and 19 million barrels of oil equivalent (mboe), which translates to approximately 0.4 to three million standard cubic metres of oil equivalent.

Despite this, initial assessments indicate that the discovery may not be commercially viable under the current price assumptions.

Drilled by the Cosl Prospector rig, the well aimed to confirm the presence of petroleum in Upper Permian reservoir rocks within the Ørret formation.

It encountered a 1.5m gas column in a sandstone reservoir with moderate properties.

However, the rest of the Ørret formation, extending 28m, showed variable and generally poor reservoir quality, and the gas/water contact was not found.

The drilling reached a vertical depth of 1,844m below sea level and was concluded in the Ørret formation in the Upper Permian, with the water depth at the site being 415m.

Although the well was not formation-tested, extensive data acquisition and sampling have been conducted.

Vår Energi's exploration campaign in the Barents Sea will continue with the drilling of the next well, 7122/8-3 S Zagato. This is part of the ongoing exploration activities in the area planned for this year and 2026.

Last month, Vår Energi confirmed a new oil discovery in the Countach appraisal well near the Goliat field in the Barents Sea.

The preliminary gross recoverable resources from the well are estimated to range between 4mboe and 25mboe, raising the total recoverable resources for the Countach discovery to between 10mboe and 55mboe.