Vår Energi ASA

Regulatory Filings • Nov 13, 2025

Vår Energi confirms oil in appraisal well near the Goliat field in the Barents Sea

Vår Energi confirms oil in appraisal well near the Goliat field in the Barents Sea

Sandnes, Norway, 13 November 2025: Vår Energi (OSE: VAR, the Company) confirms

oil in the Zagato North appraisal well, located close to the Vår Energi operated

Goliat field in the Barents Sea.

The well located 10 kilometres north of the Goliat field encountered

hydrocarbons in the Realgrunnen and Klappmyss formations. Estimated gross

recoverable resources encountered by the well are up to 3 million barrels of oil

equivalent (mmboe).

Zagato North is part of the Goliat Ridge appraisal programme, including ongoing

drilling operations at the Goliat North well, followed by a planned side-track

and well test of the already drilled Zagato South well.

The full appraisal programme is expected to be completed by end 2025. Following

completion of the appraisal programme the company will assess the entire

potential of Goliat Ridge utilizing the extensive data acquisition combined with

the newly acquired 3D seismic data.

The Goliat Ridge is estimated to contain gross discovered resources of 36 to 103

mmboe and with additional prospective resources taking the total gross potential

to up to 200 mmboe. A tie-back of the Goliat Ridge discovery to the nearby

Goliat FPSO is being evaluated.

The partners in the licence are Vår Energi (operator, 65%) and Equinor (35%).

Contact

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 905 09 291

ida.fjellheim@varenergi.no

Media

Liv Jannie Omdal, VP Communications

+47 97667137

liv.omdal@varenergi.no?? (liv.omdal@varenergi.no%E2%80%AF%E2%80%AF)