Vår Energi ASA

Regulatory Filings • Dec 4, 2025

Vår Energi confirms another oil discovery near the Goliat field in the Barents Sea

Vår Energi confirms another oil discovery near the Goliat field in the Barents Sea

Sandnes, Norway, 4 December 2025: Vår Energi (OSE: VAR, the Company) confirms an

oil discovery in the Goliat North exploration well, located close to the Vår

Energi operated Goliat field in the Barents Sea.

The exploration well located five kilometres north of the Goliat field

encountered hydrocarbons in the Realgrunnen and Kobbe formations. Estimated

gross recoverable resources encountered are up to 5 million barrels of oil

equivalent (mmboe).

The Goliat North well forms an integral part of the Goliat Ridge appraisal

drilling programme. Vår Energi and partner Equinor will drill a total of four

wells in the Goliat Ridge, with the Zagato side track currently ongoing.

Following completion of the appraisal programme the Company will assess the

entire potential of Goliat Ridge utilising the extensive data acquisition

combined with the newly acquired 3D seismic data.

Including the latest discovery, the Goliat Ridge is estimated to contain gross

discovered resources of 39 to 108 mmboe and with additional prospective

resources taking the total gross potential to up to 200 mmboe. A tie-back of the

Goliat Ridge discoveries to the nearby Goliat FPSO is being planned.

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

+47 976 67 137

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

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the

Norwegian continental shelf (NCS). To learn more, please visit

varenergi.no (https://varenergi.no/no/)