Fossil Energy – Gas Discovery
Vår Energi ASA and its partners found gas in the Elgol prospect; however, preliminary estimates indicate that the discovery is not profitable given current price assumptions.
Exploration well 7122/9-2 is the first in production licence 1131, which was awarded in 2021 (Awards in predefined areas 2020).
Elgol is included in Vår’s ongoing exploration campaign in the Barents Sea, and exploration activity will continue throughout this year and in 2026. The next well is 7122/8-3 S Zagato.
Preliminary estimates indicate the size of the discovery is between 0.4 – 3 million standard cubic metres of oil equivalent, which corresponds to 2.6-19 million barrels of oil equivalent.
Well 7122/9-2 encountered a 1.5-metre gas column in a sandstone reservoir in the Ørret Formation, where reservoir properties were moderate. The remainder of the reservoir in the Ørret Formation totalled 28 metres with variable, generally poor reservoir quality. The gas/water contact was not encountered.
The well was not formation-tested, but data acquisition and sampling have been carried out.
