Var Energi Hits New Oil Discovery Near Goliat

Var Energi ASA on Thursday confirmed a new oil discovery on Norway's side of the Barents Sea, the second discovery in weeks in its ongoing Goliat Ridge drilling campaign.

Located five kilometers (3.11 miles) north of the producing Goliat field, operated by Var Energi, the Goliat North exploration well encountered hydrocarbons in the Realgrunnen and Kobbe formations, the Norwegian company said in an online statement. Estimated gross recoverable resources are up to five million barrels of oil equivalent (MMboe).

"Including the latest discovery, the Goliat Ridge is estimated to contain gross discovered resources of 39-108 MMboe and with additional prospective resources taking the total gross potential to up to 200 MMboe", Var Energi said.

"A tie-back of the Goliat Ridge discoveries to the nearby Goliat FPSO [floating production, storage and offloading vessel] is being planned".

Goliat Nord, or well 7122/7-8, aimed to prove hydrocarbons in Lower Jurassic/Upper Triassic and Middle Triassic rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively, according to the Norwegian Offshore Directorate (NOD).

"Well 7122/7-8 S encountered an eight-meter [26.25 feet] gas/oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 6.5 meters, with good reservoir quality", the NOD reported separately. "The gas/oil contact was encountered 1,255 meters below sea level. The oil/water contact was not encountered.

"The well also encountered a six-meter gas/oil column in the Fruholmen Formation in the Realgrunnen Subgroup in reservoir rocks with good reservoir quality. The gas/oil contact was encountered 1,285 meters below sea level. The oil/water contact was encountered 1,290 meters below sea level.

"In the Kobbe Formation, the well encountered a 17-meter oil column in reservoir rocks totaling 12 meters, with good reservoir quality. The oil/water contact was encountered 2,048 meters below sea level".

Goliat North was drilled to a vertical depth of 2,197 meters below sea level and was terminated in the Kobbe Formation in the Middle Triassic. The site has a water depth of 409 meters, according to the NOD.

Goliat North has been permanently plugged and abandoned, it said.

Goliat North is the 12th exploration well drilled in Production License 229, awarded 1997, according to the NOD.

On November 13 Var Energi ASA confirmed oil in the Goliat Ridge's Zagato North appraisal well, located 10 kilometers north of Goliat.

Zagato North, or well 7122/8-4 S, yielded estimated gross recoverable resources of up to three MMboe in the Klappmyss and Realgrunnen formations.

The discovery had been proven February. The well aimed to delineate the 7122/8-3 S (Zagato) discovery in Lower Jurassic-Upper Triassic and Middle Triassic reservoir rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively, according to the NOD.

Var Energi said Thursday drilling at the Zagato sidetrack well was ongoing.

"Following completion of the appraisal program the company will assess the entire potential of Goliat Ridge utilizing the extensive data acquisition combined with the newly acquired 3D seismic data", it said.

Var Energi operates license 229 with a 65 percent stake. Majority state-owned Equinor owns 35 percent.

To contact the author, email jov.onsat@rigzone.com