Aug 28, 2023
With this project, Equinor and its partners expect to increase production by 26 million barrels of oil equivalents from Statfjord Øst.
The project is completed with sound safety results and is expected to deliver within estimated cost, despite the inflation and weakened Norwegian krone. Production starts 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).
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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 percent as a result from this project. Statfjord Øst startet producing in 1994. The field is located five kilometres from Statfjord C.
The project was decided by the partnership in 2020 and approved by the Ministry of Petroleum and Energy in 2021.