Statfjord Øst field : Equinor starts production from expansion project
Equinor has officially announced the start of production for the Statfjord Øst expansion project, located on the Norwegian continental shelf (NCS). The project is six months ahead of schedule and is expected to increase production by a remarkable 26 million barrels of oil equivalents from the Statfjord Øst field. Despite market challenges like inflation and a weakened Norwegian krone, the project was completed within the estimated cost and showcased strong safety results.
Statfjord Øst Expansion Project Expected to Extend Statfjord C’s Life Until 2040
According to Camilla Salthe, Equinor’s Senior Vice President for Field Life eXtension (FLX), the Statfjord Øst project underscores the importance of extending the lifespan of mature fields. “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 current oil prices,” Salthe said.
Equinor begins production from Statfjord Øst field expansion project. Photo courtesy of Øyvind Hagen / Equinor.
Innovative Drilling and Pipeline Enhancements
Equinor and its partners have drilled two new wells from existing subsea templates, with three more wells planned at the Statfjord Øst field. Modifications on the Statfjord C platform and a new pipeline for gas lift to the subsea wells are also part of this extensive project. Ketil Rongved, Equinor’s Vice President for FLX projects, highlighted how the company aims to lead in the operation of late-life fields on the NCS by developing simpler and faster solutions without compromising quality.
Recovery Rate Expected to Surge from 58% to 63%
As a result of this project, the oil recovery rate from the Statfjord Øst field is expected to rise from 58% to 63%. Investments for the project increased from NOK 3.0 to NOK 3.5 billion due to an additional well and higher production targets. The project decision was initially made in August 2020 and received approval from the Ministry of Petroleum and Energy in 2021.
Statfjord Øst Licence Partners and Further Details
License partners in the Statfjord Øst Unit include Equinor Energy AS with a 29.25% stake, Petoro AS holding 30%, Vår Energi ASA with 20.55%, pending government approval for Okea ASA at 14%, INPEX Idemitsu Norge AS at 4.8%, and Wintershall Dea Norge AS with 1.4%.
With this early start of production at the Statfjord Øst field expansion project, Equinor reaffirms its commitment to maximizing the value of mature oil fields, enhancing recovery rates, and ensuring responsible resource management on the Norwegian continental shelf.