Equinor begins production from mature oil field in Norwegian Continental Shelf
(UI) – Equinor has commenced production on its Statfjord Øst project on the Norwegian Continental Shelf. With this project, Equinor and its partners expect to increase production by 26 MMboe from the area.
The project was completed with sound safety results, and is expected to deliver within estimated cost, despite the inflation and weakened Norwegian krone. Production started six months ahead of schedule.
“This proves the importance of extending the life of mature fields and maximizing value creation from existing infrastructure on the Norwegian Continental Shelf (NCS). The project contributes to extending the life of Statfjord C to 2040. The profitability is high, and the value of increased production equals around NOK 20 billion at the current oil price. This is good use of resources which provide ripple effects for Norwegian suppliers,” says Camilla Salthe, Equinor’s senior vice president for Field Life eXtension (FLX).
Two new wells have been drilled from existing subsea templates, and three additional wells are to be drilled. Statfjord Øst is tied to the Statfjord C platform, and the project includes a modification on Statfjord C and laying of a new pipeline for gas lift to the subsea wells.
“This is a good example of how we work with mature fields. Equinor aims to be a leading operator of late-life fields on the NCS. That means that we need to find new ways of working to reduce costs. Together with our partners we have developed simpler and faster solutions while maintaining high quality,” says Ketil Rongved, Equinor’s vice president for FLX projects.
The oil recovery rate from the field is expected to rise from 58% to 63% as a result from this project. Statfjord Øst started producing in 1994. The field is located five km from Statfjord C.
The project was decided by the partnership in 2020 and approved by the Ministry of Petroleum and Energy in 2021.
Field Life eXtension (FLX) is a unit in Equinor that is responsible for late-life fields. Its purpose is to optimize the fields’ operations and economy through new ways of working, with safety as its main priority.
The original oil volume in place in Statfjord Østt is 410 MMbbl. The project will increase reserves by 26 MMboe.
Lead photo:The Statfjord C platform in the North Sea (Photo: Øyvind Hagen / Equinor)
