New Oil Discovery Boosts Barents Sea Potential With 20 More Wells on the Drilling Horizon

Norwegian oil and gas player Vår Energi has discovered oil resources in an appraisal well near the Goliat field in the Barents Sea off the coast of Norway. As the firm believes the new find has unlocked further potential in the area, it plans to drill 20 more wells in the Barents Sea over the next four years.

While confirming the oil discovery in its operated Countach appraisal well near the Goliat field, Vår Energi highlights that the preliminary estimated gross recoverable resources encountered in the well are between 4 to 25 million barrels of oil equivalent (mmboe), bringing the total estimated recoverable resources in the Countach discovery to 10 to 55 mmboe.

The appraisal well was drilled following the Countach discovery of 3 to 13 mmboe announced in 2023, which is located about 13 kilometers northeast of the FPSO Goliat. The results from the well increase the estimated gross recoverable resources for the discovery to between 10 to 55 mmboe.

According to the Norwegian player, the discovery serves to confirm the potential of the Goliat ridge, where additional gross prospective recoverable resources of over 100 mmboe are slated to be assessed with the planned drilling program in 2025.