SANDNES, NORWAY: Vår Energi ASA (OSE: VAR) confirmed the discovery of oil in the operated 7122/8-1S Countach well in PL229 (Goliat), north-west of Hammerfest.

The well is currently drilled to 2958m measured depth and oil has been encountered in the Realgrunnen and Kobbe formations. A sidetrack is planned to better define the size of the discovery. Extensive data is being collected for further assessment. Updated information about volume estimates will be released in due course.

Vår Energi is the operator with a 65% equity share. Equinor holds the remaining 35%.

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). Vår Energi has more than 900 employees and equity stakes in 35 fields producing net 220,000 boe per day in 2022.