Vår discovers commercial oil and gas in the North Sea

Vår’s discovery of commercial and oil and gas was made in two different structural segments in Sognefjord and Fensfjord formations in the North Sea. The preliminary estimate of gross recoverable resources of the discovery are between 13–28 million barrels of oil equivalent. The licensees regard the discovery to be commercially viable and will consider a tie-in to existing infrastructure.

The Fram area has seen exploration successes in recent years with Echino South and Blasto being moved forward as the Fram South development project, while Mulder and now Rhombi are lining up to provide future high value production. In addition, Vår will participate in six exploration wells in the area over the next three years.

The license partners are Equinor Energy AS: 45% (operator), Vår Energi ASA: 40% and INPEX Idemitsu Norge AS: 15%.