Vår Energi submits proposal for Goliat Gas Export project offshore Norway

Vår Energi and partner Equinor have submitted an amended Plan for Development and Operation (PDO) for the Goliat Gas Export (GGE) project in the Barents Sea.

The Ministry of Petroleum and Energy will review the proposal.

Vår Energi said the project, which involves producing gas currently re-injected into the reservoir, should also increase oil production from the Goliat field via improved reservoir management.

The gas will be exported to the Hammerfest LNG plant in northern Norway under a gas bank arrangement, agreed with the Snøhvit field co-venturers, and sold when processing capacity becomes available.

New subsea infrastructure connecting the Goliat FPSO to the Snøhvit subsea pipeline system to Hammerfest will include a gas riser, umbilical, and a 12-km gas export pipeline. There will also be modifications to the Goliat FPSO to accommodate the connections.

The development is designed to recover 2P reserves of 112 MMboe, of which around 15% is oil, and should become operational in Q3, 2029.

Vår Energi coo Torger Rød said: “The project expands the infrastructure in the Barents Sea and unlocks future developments. Importantly, it extends the operational life of the Goliat field by approximately 10 years, to around 2050, thereby strengthening the long-term security of energy supply to Europe.”

In addition, the investments should offer a route for gas produced from future field developments to be connected to the Goliat FPSO – the first of these will likely be the Goliat Ridge project.

Vår Energi estimates overall costs for the GGE project at around $360 million pre-tax.