Norwegian oil and gas company Vår Energi has confirmed an oil discovery in the Zagato exploration well close to the Goliat field in the Barents Sea.
The preliminary estimated gross recoverable resources from the well range from 15 million barrels of oil equivalent (mboe) to 43mboe.
The Zagato discovery, situated 8km north-east of the Goliat floating production, storage and offloading (FPSO) unit, strengthens Vår Energi's presence in one of its core areas on the Norwegian Continental Shelf.
The Goliat ridge, where the discovery was made, is composed of a series of adjacent fault-bounded prospects.
The three wells drilled on the Goliat ridge, Countach, Countach appraisal and Zagato, have all successfully identified hydrocarbons in separate fault blocks. The company confirmed an oil discovery in the Countach appraisal well in December 2024.
This reduces the risk of prospecting in the undrilled areas and suggests total gross estimated recoverable resources reaching around 100mboe.
The exploration wells have revealed good-quality reservoirs similar to those in the producing Goliat field.
To further delineate the remaining potential and expedite development studies, Vår Energi plans to acquire new 3D and 4D seismic surveys in summer 2025.
Additionally, two further exploration/appraisal wells are scheduled to commence drilling towards the end of the third quarter of this year.
Vår Energi COO Torger Rød said: “The Zagato discovery reinforces Vår Energi’s position as a leading exploration company on the Norwegian Continental Shelf (NCS). Close proximity to existing infrastructure provides opportunity for a fast-track, low-emission, cost-efficient development utilising available capacity at the Goliat FPSO, adding high-value barrels.
“With additional wells being drilled this year, we see an opportunity to unlock significant additional resources as tie-back projects to Goliat. The recent discoveries continue to strengthen Vår Energi’s ability to sustain high value production of 350-400 kboepd [thousand barrels of oil equivalent per day] in the longer term.”
The Countach appraisal and Zagato wells form part of a two-year drilling campaign in the Barents Sea, a collaborative effort with Equinor that targets both infill production and exploration wells.
Vår Energi intends to drill approximately 20 exploration wells in the Barents Sea over a four-year period. Following the completion of operations at Zagato, the rig will drill infill wells at the Goliat field before returning to the Goliat ridge later in the year.
Vår Energi holds a 65% interest as the operator, with Equinor owning the remaining 35% stake.
