The COSL Prospector, a semi-submersible rig owned by COSL Drilling Europe, has discovered between 10-52 million barrels of oil in the Barents Sea, the Norwegian Offshore Directorate announced. The appraisal well is located near the Goliat field, operated by Vår Energi.
The discovery highlights the potential of the Goliat Ridge, where Vår Energi plans to drill three additional wells—Zagato North, Zagato South, and Goliat North—in 2025, targeting over 100 million barrels of recoverable resources.
Torger Rød, COO of Vår Energi, emphasized the Barents Sea’s strategic importance, reaffirming the company’s commitment to further development in the region. Vår Energi owns 65% of the license area, with Equinor holding the remaining 35%.
The COSL Prospector was built in 2014 in China and operates under a Singapore flag. COSL Drilling Europe, part of Chinese state-owned COSL, secured contracts with both Vår Energi and Equinor for drilling campaigns in the Barents Sea.
Vår Energi assured that COSL Drilling Europe underwent thorough uations, including due diligence assessments, before signing the contract. Norwegian authorities continue to oversee safety and security on the continental shelf amid concerns over cooperation with Chinese-affiliated companies.
