Vår Energi confirms another oil discovery near the Goliat field in the Barents Sea
Vår Energi has confirmed an oil discovery in the Goliat North exploration well near the Goliat field in the Barents Sea. The well encountered hydrocarbons with estimated recoverable resources of up to 5 million barrels of oil equivalent. This discovery is part of the Goliat Ridge appraisal drilling program, which includes four wells. The Goliat Ridge is estimated to contain 39 to 108 mmboe, with potential up to 200 mmboe. A tie-back to the Goliat FPSO is planned. Vår Energi operates with a 65% stake, partnered by Equinor with 35%.
Sandnes, Norway, 4 December 2025: Vår Energi (OSE: VAR, the Company) confirmsanoil discovery in the Goliat North exploration well, located close to the VårEnergi operated Goliat field in the Barents Sea.
The exploration well located five kilometres north of the Goliat fieldencountered hydrocarbons in the Realgrunnen and Kobbe formations. Estimatedgross recoverable resources encountered are up to 5 million barrels of oilequivalent (mmboe).
The Goliat North well forms an integral part of the Goliat Ridge appraisaldrilling programme. Vår Energi and partner Equinor will drill a total of fourwells in the Goliat Ridge, with the Zagato side track currently ongoing.Following completion of the appraisal programme the Company will assess theentire potential of Goliat Ridge utilising the extensive data acquisitioncombined with the newly acquired 3D seismic data.
Including the latest discovery, the Goliat Ridge is estimated to contain grossdiscovered resources of 39 to 108 mmboe and with additional prospectiveresources taking the total gross potential to up to 200 mmboe. A tie-back oftheGoliat Ridge discoveries to the nearby Goliat FPSO is being planned.
The partners in the licence are Vår Energi (operator, 65 %) and Equinor (35%).
Contact
Investor relationsIda Marie Fjellheim, VP Investor Relations+47 905 09 291ida.fjellheim@varenergi.no
MediaLiv Jannie Omdal, VP Communications+47 976 67 137liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)
About Vår Energi
Vår Energi is a leading independent upstream oil and gas company on theNorwegian continental shelf (NCS). To learn more, please visitvarenergi.no (https://varenergi.no/no/)
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