Equinor and its partners in the Statfjord area have identified and approved plans to extend production from the field towards 2040. A new business plan will ensure even higher use of resources, extract more value from the field, and allow plans for decommissioning Statfjord A in 2022 to be deferred.
Equinor and its partners have therefore resolved a new, ambitious business plan for the Statfjord main field and satellite fields. Vår Energi, Spirit Energy Norway, Petoro, Idemitsu Petroleum Norway, and Wintershall Dea Norge are partners in the Statfjord area, Equinor is operator.
Statfjord A was scheduled for decommissioning in 2022, however, the field life will now be extended to 2027. The lives of Statfjord B and C will be extended beyond 2035, continuing to create high value from the field and securing profitable jobs.
“We have a responsibility to society and our owners for realising the full value potential from our producing fields on the Norwegian continental shelf (NCS). Statfjord is a world-class oil and gas field that has supplied the world with huge amounts of energy. The field has created high value and been a cornerstone in the development of the entire Norwegian petroleum industry. It is therefore a pleasure to see that we, together with our partners in the area, can extend the production period and continue the value creation,” said Arne Sigve Nylund, Executive Vice President for the Norwegian continental shelf in Equinor.
The new plan calls for extending Statfjord production by maturing new reserves for recovery and making necessary upgrading of the platforms, strongly increasing field activity.
Around 100 new wells will be drilled towards 2030. The wells will help reach an ambition of maintaining the current production level from Statfjord beyond 2025. This will require considerable investments and upgrading of the three platforms.
The new Statfjord effort includes a plan for keeping CO2 emissions as low as possible through the late life period, to ensure that Statfjord is operating well within the limit of Equinor’s new NCS climate ambition.
During the next five years, CO2 emissions per produced barrel from the field will be halved due to higher production, compared to ending the production earlier. Several operational measures for increased energy efficiency have been identified to maintain a constant level of energy consumption, in a period with increasing activity level.
Towards 2030, Equinor will realise energy efficiency measures and consolidate infrastructure to reduce absolute emissions from Statfjord by more than 40 per cent. This means that climate emissions from Statfjord is aligned with Equinors new climate ambition for the NCS, to reduce absolute emissions in Norway by 40 per cent within 2030, 70 per cent by 2040 and close to zero by 2050.