Finance
Vaar Energi makes oil discovery near Arctic Goliat field
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 27, 2025
1 min readLast updated: January 25, 2026
Vaar Energi has discovered 15-43 million barrels of oil near the Arctic Goliat field, offering fast-track, low-emission development opportunities.
OSLO (Reuters) - Vaar Energi has made an oil discovery in its Zagato prospect some 8 km (5 miles) north of the Arctic Goliat oilfield, the company and the Norwegian Offshore Directorate said on Thursday.
The preliminary estimated gross recoverable resources found in the well are between 15 million and 43 million barrels of oil equivalent and come on top of two other discoveries made in the area, Vaar said.
"Close proximity to existing infrastructure provides opportunity for a fast track, low emission, cost-efficient development utilising available capacity... adding high value barrels," Vaar Chief Operating Officer Torger Roed said.
Vaar Energi, majority owned by Italy's Eni, is the operator with a 65% stake, while Equinor owns the remaining 35%.
(Reporting by Terje Solsvik, editing by Essi Lehto)
Vaar Energi made its oil discovery in the Zagato prospect, located about 8 km north of the Arctic Goliat oilfield.
The preliminary estimated gross recoverable resources found in the well are between 15 million and 43 million barrels of oil equivalent.
Vaar Energi is majority owned by Italy's Eni, which holds a 65% stake, while Equinor owns the remaining 35%.
The close proximity to existing infrastructure allows for a fast track, low emission, cost-efficient development utilizing available capacity, adding high value barrels.
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