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Increasing value and extending Statfjord
Equinor and its partners Vår Energi, Spirit Energy Norway, Petoro, Idemitsu Petroleum Norway and Wintershall Dea Norge have identified ‘considerable’ potential remaining resources in the Statfjord area 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 to 2027. The lives of Statfjord B and C will be extended beyond 2035.
‘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),’ says Arne Sigve Nylund, Equinor’s Executive Vice President for the NCS.
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, which aims to reduce absolute emissions in Norway by 40% by 2030, 70% by 2040 and close to zero by 2050. During the next five years, CO2 emissions per produced barrel from the field will be halved, while energy efficiency measures and consolidating infrastructure aim to reduce absolute emissions from Statfjord by more than 40% towards 2030.
Statfjord A platform
Photo: Harald Pettersen/Equinor
News Item details
Journal title: Petroleum Review
Countries: Norway -
Subjects: Decommissioning, Oil and gas, Exploration and production, Carbon emissions, Decarbonisation, Low carbon
