The Barents Sea is on the brink of delivering another significant oil discovery, boosting prospects for a major Norwegian joint venture near one of the region’s existing oilfields.
The Zagato exploration well, operated by Vaar Energi, is currently in the drilling phase and showing promising signs, according to the company’s executive vice president for exploration, Luca Dragonetti.
“The well that we are drilling (in the Barents) at the moment is Zagato. We are in the reservoir. It looks very, very good,” Dragonetti revealed during the company’s Capital Markets Day.
This potential discovery underscores the Barents Sea’s ongoing importance as a hub for Norwegian oil exploration, with new discoveries likely to bolster Vaar Energi’s production portfolio and sustain long-term output from the region.
