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.
Based on extensive mapping of the underground the remaining potential of the Statfjord area is still considerable.
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.
Through 40 years of production, Statfjord has generated 1600 billion NOK gross income to the owners and the Norwegian society.
“We have a responsibility to society and our owners for realizing 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,” says Arne Sigve Nylund, Executive Vice President for the Norwegian continental shelf in Equinor.