Vår Energi submits plan to increase production at Goliat

Vår Energi aims to increase oil production from the Barents Sea Goliat field, and has submitted an amended Plan for Development and Operation (PDO) for the Goliat Gas Export (GGE) project to the Ministry of Energy. 

The project, in production license (PL) 229, is expected to increase oil production from Goliat through optimized reservoir management and export gas currently being re-injected into the reservoir, adding energy supply to Europe.

The project comprises new subsea infrastructure connecting the Goliat FPSO to the Snøhvit pipeline, including a gas riser, umbilical, and a 12-km gas export pipeline. Modifications to the FPSO will enable the new infrastructure to be connected to existing FPSO infrastructure. 

The incremental oil will be sold from the start, while gas will be exported to the Hammerfest LNG plant under a gas bank arrangement with Snøhvit and sold when processing capacity is available.

The GGE project also allows for future project gas solutions to be connected to the Goliat FPSO, with the first being the Goliat Ridge development. Total investments for the GGE project will be about $360 million gross pre-tax.

GGE is developing proved plus probable (2P) reserves of 112 MMboe, of which about 15% is oil. The project is expected to come onstream in third-quarter 2029.    

Goliat is fully electrified with power from shore and the GGE project represents no additional CO₂ emissions, the company said.

Vår Energi is operator at PL 229 (65%) with partner Equinor Energy AS (35%).