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).
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.
Facts
Field Life eXtension (FLX) is a unit in Equinor that is responsible for late-life fields. Its purpose is to optimize the fields’ operations and economy through new ways of working, with safety as its main priority.
The original oil volume in place in Statfjord Østt is 410 million barrels. The current recovery rate is 58 per cent. As a result of this project, the expected recovery rate has risen to 63 per cent.
- Investments increased from NOK 3.0 to NOK 3.5 billion, due to an additional well and higher production.
- The investment decision was made in August 2020.
- Completion at the end of 2023.
- The project will increase reserves by 26 million barrels of oil equivalent.
The project has installed a pipeline from Statfjord C to Statfjord Øst, where five new wells (sidetracks) will be drilled with gas lift and new Christmas trees. Modifications have been made on Statfjord C to deliver gas lift and improve the reception of higher production. The Statfjord Øst development comprises subsea systems including three templates. Located five kilometres north-east of Statfjord C, the field came on stream in 1994.
Licence partners in Statfjord Øst Unit: Equinor Energy (29.25%), Petoro (30%), Vår Energi (20.55%), Okea (14.0%) *, INPEX Idemitsu Norge (4.8%), Wintershall Dea Norge (1.4%).
*Subject to government approval.
Source: Equinor
