Statfjord reprieved as Equinor plans decade of drilling

Norwegian state-controlled Equinor will drill around 100 new wells at its North Sea Statfjord field in the next 10 years as part of a new plan to extend the field's life beyond 2035.

The firm said it will defer previous plans to decommission the Statfjord A platform by 2022, and will extend the field's life to 2027. The Statfjord B and C platforms will remain operational beyond 2035, 10 years longer than Equinor's previous plan. All three platforms will be upgraded.

Three other producing fields feed into Statfjord — Snorre, Sygna and Barnacle. Barnacle came on stream in December 2019.

Statfjord has been reprieved by a move towards mature North Sea assets being acquired by smaller, independent firms as long-term incumbent majors move on. ExxonMobil, which discovered the Statfjord field in 1974, sold all its Norwegian assets in September to Norwegian independent Var Energi for $4.5bn. New entrants into the sector often target smaller, near-field discoveries to extend the life of existing infrastructure — hence the extensive drilling programme now in place for Statfjord.

Statfjord has produced more than 5bn bl of oil equivalent since it came on line in 1979. It remains the biggest field ever discovered on the Norwegian continental shelf. Crude output peaked in 1992 and has declined significantly in recent years. Export loadings will be 53,000 b/d in February, according to the field's loading programme. Gas from the field is piped to Norway and the United Kingdom.

Var Energi holds a 21.4pc stake in Statfjord; Equinor has a 44.3.pc operating stake; independent Spirit Energy has 19.8pc and the balance is held by a few non-Norwegian companies.

By Ben Winkley

News No: 8261
Date: 2020/01/09 - 16:55
News Source: Argus Media

drilling  Norwegian  Sea  Energy  Gas 


Leave a Comment:


Energy Ministry considering incentive packages to manage electricity consumption

Iranian Energy Minister said on Wednesday that his ministry is considering new incentive packages for low-consuming households and industrial electricity subscribers, IRIB reported.

ICOFC to set up pressure boosting stations for central fields

Iranian Central Oil Fields Company (ICOFC) is going to implement a $600-million project for setting up pressure boosting stations to ensure sustained gas supply to refineries in the country’s central regions.

SP phase 13 transmission pipelines ready to go operational

The gas transmission pipelines of South Pars gas field’s 13A and 13C platforms have become ready to transmit gas from these platforms to the refinery on the coast.

IOEC starts constructing Iran’s longest underwater gas pipeline

Iranian Offshore Engineering and Construction Company (IOEC) has started the construction of the country’s longest underwater gas transmission pipeline as part of a project to transfer gas to Kish Island power plants, IRIB reported.

Daily gas supply to power plants up 14.5% in a month

Gas supplied to the country’s power plants by the National Iranian Gas Company (NIGC) has risen 14.5 percent in the past Iranian calendar month (ended on July 21) compared to its preceding month, the company’s spokesman told IRNA.

Energy Ministry calls on govt. bodies to reduce power consumption

Spokesman of Iran’s electricity sector said that government organizations and agencies account for nearly 4,000 megawatts (MW) of the country’s electricity consumption and they need to reduce this figure by at least 10 percent.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners