Vår Energi strikes oil in the North Sea

Vår Energi has discovered oil at Ringhorne Nord in the North Sea, offshore Norway. The wells, 25/8-23 S and 25/8-23 A & B, are north of the Ringhorne Øst field and 200 km northwest of Stavanger. The well was drilled using Odfjell Drilling’s Deepsea Yantai semisubmersible rig.

Preliminary calculations indicate the discovery’s size at between 2 and 3.7 million standard cu m of recoverable oil equivalent. According to the Norwegian Offshore Directorate, this is the equivalent of 13-23 million barrels.

The licensees are considering a tieback of the discovery to existing nearby infrastructure.

These are the first exploration wells in production license 956, awarded in 2018. Vår Energi recently conducted exploration activity in the area, including drilling two exploration wells in production license PL 917 in the Hubert and Magellan prospects.

Vår Energi operates the Balder and Ringhorne Øst fields. The results of its exploration activity are important for future area development and the lifetimes of the Balder and Ringhorne Øst fields.