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    Home > Finance > Vaar Energi makes oil discovery near Arctic Goliat field
    Finance

    Vaar Energi makes oil discovery near Arctic Goliat field

    Published by Global Banking & Finance Review®

    Posted on February 27, 2025

    1 min read

    Last updated: January 25, 2026

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    Tags:oil and gasenergy marketInvestment opportunities

    Quick Summary

    Vaar Energi has discovered 15-43 million barrels of oil near the Arctic Goliat field, offering fast-track, low-emission development opportunities.

    Vaar Energi makes oil discovery near Arctic Goliat field

    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)

    Key Takeaways

    • •Vaar Energi discovers oil near Goliat field.
    • •Estimated 15-43 million barrels of oil equivalent.
    • •Discovery enhances fast-track development opportunities.
    • •Vaar Energi holds a 65% stake, Equinor 35%.
    • •Close to existing infrastructure for cost efficiency.

    Frequently Asked Questions about Vaar Energi makes oil discovery near Arctic Goliat field

    1Where did Vaar Energi make its oil discovery?

    Vaar Energi made its oil discovery in the Zagato prospect, located about 8 km north of the Arctic Goliat oilfield.

    2What are the estimated recoverable resources from the discovery?

    The preliminary estimated gross recoverable resources found in the well are between 15 million and 43 million barrels of oil equivalent.

    3Who are the stakeholders in Vaar Energi?

    Vaar Energi is majority owned by Italy's Eni, which holds a 65% stake, while Equinor owns the remaining 35%.

    4What advantages does the proximity to existing infrastructure provide?

    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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