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22/12/2020
Statfjord East
Equinor and its licensing partners have decided to invest NOK 3 billion in the Statfjord Øst field in the North Sea to improve recovery of 23 million barrels of oil equivalent.
Written notification of significant changes to the development and operation plan of Statfjord Øst was submitted to the Ministry of Petroleum and Energy on 16.12.2020.
“The decision to improve recovery on Statfjord Øst will add tremendous value to the company and owners and create positive effects for suppliers. Our ambition is to maintain safe and profitable production and secure valuable activity on the Norwegian Continental Shelf (NCS) for several decades, ”said Kjetil Hove, Equinor senior vice president for Field Life eXtension (FLX).
Statfjord Øst is connected to the Statfjord C platform by pipelines. A total of four new wells will be drilled from existing submarine models. The project also includes modifications to Statfjord C and a new pipeline for the gas pipeline.
“We will be one of the main NCS end-of-life operators. To achieve this, we need to work in new ways to reduce costs, thus providing new investment opportunities in end-of-life fields ensuring profitable reservoir management. The Statfjord Øst decision is a good example, ”says Hove.
This decision improves the recovery factor on Statfjord Øst and makes an important contribution to extending the lifespan of the Statfjord C platform and the Statfjord Øst field around 2040.
The initial volume of oil in place on Statfjord Øst was 415 million barrels of oil. The current recovery factor is 56%. As a result of this project, the expected payback factor is increased to 62 percent.
Plans call for the installation of a gas pipeline for a gas lift, modifications to Statfjord C and the drilling of new wells in 2022 – 2024. Production is scheduled to start in 2024.
The development of Statfjord Øst includes underwater facilities that include three models. The field is located five kilometers northeast of Statfjord C. The field was commissioned in 1994.
The license partners of the Statfjord Øst unit: Equinor Energy AS (31.6875%), Petoro AS (30.0000%), Vår Energi AS (20.5500%), Spirit Energy Norway AS (11.5625%) , Idemitsu Petroleum Norge AS (4.8000%), Wintershall Dea Norge AS (1.4000%).
After several extensions of the life of the Statfjord field, the current goal is to maintain a safe and profitable operation until 2040. Statfjord is part of FLX, which was created to respond to the strategic opportunities and challenges of the fields end of life in relation to Equinor’s competitiveness.
FLX aims to ensure that Equinor is the leading company in safe and efficient operations with low carbon emissions from NCS end-of-life fields.
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