Norwegian Goliat Oil Field's Extended Life
To limit global warming, a sharp and immediate cut in climate emissions is required, the UN states.
And Norway has committed to cutting emissions. But in the north of the Norwegian Sea, Vår Energi ASA will now extend the life of the Goliat field.
Together with Equinor, they have submitted a modified plan for development and operation to the Ministry of Petroleum and Energy. The project will provide more oil and enable the sale of gas from the Goliat field.
The oil will be sold continuously, while the gas will be sent to Hammerfest LNG on Melkøya.
Production Director at Vår Energi, Torger Rød, describes the project as efficient and value-creating.
“Not least, it extends the life of the Goliat field by about ten years, to around 2050, and thus contributes to strengthening the long-term security of energy supply to Europe.”
During the Barents Sea Conference in Hammerfest today, the Minister of Petroleum and Energy, Terje Aasland, was presented with the company’s plan for development and operation (PDO). He believes the project has great development potential.
“It supports the life of Hammerfest LNG, while increasing the opportunities for Goliat and the field there. So this is a day of joy.”
An Industry We Must End
Leader of the Norwegian Association for the Conservation of Nature, Truls Gulowsen, is not enthusiastic about Vår Energi’s plans.
“All new oil and gas that is taken up from the ground and delivered to the market will cause greater emissions and worse climate change, no matter how the oil companies try to evade reality.”
He believes the proposal must be rejected.
“It emphasizes the need for an overall policy of phasing out rather than artificial respiration in an industry that we must end,” he says.
Facilitates New Developments
The development will add proven and probable reserves of 112 million barrels gross (73 million barrels of oil equivalents net), of which about 15 percent is oil.
The project is planned to start production in the third quarter of 2029.
“The project builds on the infrastructure in the Barents Sea and facilitates new, future developments.”
The project includes new subsea infrastructure connecting the Goliat FPSO to the Snøhvit pipeline, including gas risers, control cables, and a 12.5-kilometer gas export pipeline. In addition, modifications will be made to the Goliat FPSO that will connect the new infrastructure to existing systems on board.
$360 Million
At the end of last year, the company made a new oil discovery in the Goliat North well, just five kilometers north of the Goliat field in the Barents Sea.
This project costs a total of $360 million and makes it possible to develop more fields in the future, such as Goliat Ridge. Because the platform uses electricity from shore, the expansion does not result in any increased emissions, according to the company.
Partners in the Goliat license are operator Vår Energi (65 percent) and Equinor (35 percent).
Source: NRK (in Norwegian)