The Barents Sea Area features significant value and upside potential. Key assets include the Goliat field (in which Vår Energi holds a 65% working interest and is the operator) and the Johan Castberg field.
There is high drilling activity in the areas around the Goliat field. The field produces via the circular Goliat FPSO. The platform is moored to the seabed and powered by electricity from shore.
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We strongly believe in the future of the region and aim to realise the true potential of the Barents. Building on our unique experience as operator for the Goliat field, we are set to capture new opportunities through exploration and development of new discoveries in the area.
The Barents hub features significant value and upside potential. Some of our key projects and assets:
Vår Energi has, together with the licence partner, approved concept selection (DG2) for a gas export solution from Goliat to the Snøhvit pipeline for further transport of gas to the LNG plant on Melkøya. The Goliat gas project is an important step for increased gas export capacity from the Barents Sea.
Another key asset in the Barents Sea Area is Johan Castberg, a sanctioned and substantially de-risked project. Production from the field started in March 2025 and Vår Energi holds a 30% working interest in the licence (Equinor is operator).
Production tests on the Zagato structure in the Goliat Ridge discovery in the Barents Sea confirmed good quality reservoirs and oil quality similar to the Goliat field.
Vår Energi and licence partner Equinor have drilled a total of five wells and one side track in the area. Including the latest well, the Goliat Ridge is estimated to contain gross discovered recoverable resources of 35 to 138 million barrels of oil equivalents (mmboe), and with additional prospective resources taking the total gross potential to over 200 mmboe.
The Snøhvit field was added to the Barents Sea Area portfolio after the acquisition of Neptune Energy Norge AS, completed in January 2024. Snøhvit is a highly strategic long-life LNG asset.
