Vår Energi found more oil at Goliat

Goliat is the only operational oilfield in the Norwegian sector of the Barents Sea and also the world’s northernmost offshore field in production.

Vår Energy, a company partly owned by Italy-based Eni, said in a statement Thursday that the date from the discovery needs “further assessments” and volume estimates will come later.

The Goliat field is located north of mainland Norway and was discovered in 2000. The first oil from the field flowed in 2016 and produces some 110,000 barrels of oil per day. The oil is first stored in the floating production, storage and offloading (FPSO) platform and then shipped directly to the market without any reloading facilities onshore.

Despite growing awareness of dramatic climate changes, the Norwegian government continues to prepare the ground for a significant expansion of oil and gas exploration in northern waters.

“We have to make new discoveries in order to continue to develop the Norwegian shelf,” Minister of Petroleum and Energy Terje Aasland said in connection with the Government’s proposal to open 92 new blocks in North Norwegian waters.

According to the minister, new Norwegian discoveries are important both for Norway and Europe.