Vår Energi makes ‘largest discovery of the year’ in Barents Sea

Norwegian oil and gas company Vår Energi has made what is said is the “largest discovery of the year” in the Goliat area in the Barents Sea offshore Norway.

Vår Energi confirmed on 23 December the discovery of gas in its operated 7122/9-1 T2 Lupa well. Preliminary estimates of the size of the discovery are between 57-132 million barrels of recoverable oil equivalent (9-21 billion Sm3 recoverable gas resources).  

The Lupa well was drilled in PL229E by Transocean Enabler and will be permanently plugged and abandoned. The rig will now move back to continue drilling 7122/8-1S Countach in the PL229 licence.  

“The Lupa discovery further strengthens our foothold in the north. The discovery could serve as another step towards realising additional gas infrastructure in the Barents Sea in the future. We have a long-term growth strategy for the Barents Sea and will continue to chase new opportunities for value creation,” said Rune Oldervoll, EVP Exploration & Production at Vår Energi.

According to the Norwegian company, Lupa brings the 2022 exploration success of Vår Energi to 57 per cent and three of the successful wells this year were drilled in the Barents Sea. 

The primary exploration target for the 7122/9-1 T2 Lupa well was to prove hydrocarbons in the Havert formation of Triassic age. The well encountered a gas column of 55 meters in sandstones with moderate to good reservoir quality and the gas-water contact was not encountered in the well. The total depth was called in the Ørret formation.

Extensive data acquisition took place, including sampling, and the discovery will now be further assessed and matured, Vår Energi stated.

The production licence 229 E was originally awarded on 19 February 2021 and is valid until 19 February 2027.Vår Energi holds a 50 per cent stake in the license, with Aker BP holding the remaining half.

Vår Energi secured a drilling permit for wells 7122/8-1 S and 7122/9-1 in September, while the Petroleum Safety Authority Norway (PSA) gave consent for exploration drilling in block 7122/8.