Oil and gas resources on the Goliat Ridge will be tied back to a floating production system in the area, with first production targeted for 2029
Subsea flowlines, risers, umbilicals and well control equipment will be required for a hydrocarbon development in the Norwegian sector of the Barents Sea after successful tests on a new oil discovery.
Vår Energi intends to press ahead with developing the oil and gas resources it has found on the Goliat Ridge as a subsea tie-back project to an existing floating production storage and offloading (FPSO) vessel in the area.
The Oslo, Norway-listed independent energy company said Goliat Ridge contains gross discovered recoverable resources of 35M to 138M barrels of oil equivalent (boe).
Along with licence partner, Equinor, Vår Energi plans to tie back this field to the nearby Goliat FPSO with several production wells, subsea flowlines, umbilicals and risers installed in 2028 for first production in 2029.
Goliat Ridge is 7 km to 11 km from the FPSO and has been appraised and flow tested, with the latest well testing two intervals in the Zagato structure of the field, with each layer demonstrating maximum flow rates of more than 4,000 barrels of oil per day, confirming reservoir quality.
Developing these resources through subsea infrastructure will also support the production and operation of the Sevan cylindrical FPSO, which has been operating over the Goliat field, 50 km west of Hammerfest, since 2016.
Oil is exported from the FPSO using shuttle tankers, while associated gas and water are reinjected for reservoir support.
According to Norwegian authorities, there are plans to lay a gas pipeline from the FPSO to the Snohvit subsea gas and condensate production infrastructure and onwards to the Hammerfest LNG production and export plant.
“This [well test] achievement strengthens our confidence in the potential of the Goliat Ridge discovery, and we see an opportunity to unlock significant additional resources as tie-back projects to Goliat,” said Vår Energi chief operating officer Torger Rød.
More drilling is planned in the area, as Vår Energi said additional prospective resources in Goliat Ridge are more than 200M boe.
The company was recently awarded an adjacent licence to the Goliat FPSO, which offers additional prospectivity on trend with the Goliat Ridge discovery.
This was part of Norway’s 2025 Awards in Predefined Areas (APA) covering mature areas of its hydrocarbon basins. During this APA, Vår Energi was awarded 14 new production licences, four in the Barents Sea, six in the Norwegian Sea and four in the North Sea.
Most of the licences are close to existing infrastructure, which can support further tie-backs and prolong the production life of existing assets.
“Continued access to new exploration acreage is essential to maintaining our long-term position as a reliable supplier of energy in an increasingly uncertain world,” said Mr Rød. “We are building a diversified portfolio and further strengthening our position as a leading operator,” he said.
“All awarded licences support our long-term growth strategy and ensure continuity in maturing opportunities and creating value.”
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