trending Market Intelligence /marketintelligence/en/news-insights/trending/FBnk26pq2K4gC10ovzQdRQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Equinor extends life of Norwegian oil giant Statfjord to 2035

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Equinor extends life of Norwegian oil giant Statfjord to 2035

Norway's state-controlled Equinor ASA decided not to decommission the Statfjord A oil platform in 2022 as previously planned and to extend production from what was the country's largest oil field beyond 2035, the company said Jan. 9.

Statfjord has been a major producer of light oil for Norway, with liquids output peaking at 640,000 barrels per day in 1992, but has been declining in recent years. Liquids output over the first 10 months of 2019 was about 40,000 bbl/d, although loaded volumes were supplemented from the nearby Snorre field, which uses the same offshore loading facilities.

Production is routed through three main platforms, the first of which had been due to be decommissioned in 2022. Statfjord B and C were tentatively planned for decommissioning in the mid-2020s.

But Equinor said Jan. 9 that it now plans to extend production from Statfjord A to 2027 and Statfjord B and C beyond 2035, with current levels of production being maintained beyond 2025. Production levels got a modest boost in December 2019 with the start of production from the Barnacle field in U.K. waters, which is tied to Statfjord B and operated by Equinor.

"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 said in a statement.

"Based on extensive mapping of the underground the remaining potential of the Statfjord area is still considerable," the company said.

The new plan for Statfjord involves drilling another 100 wells up to 2030 and "calls for extending Statfjord production by maturing new reserves for recovery and making necessary upgrading of the platforms, strongly increasing field activity," Equinor said.

Equinor said it is creating a new "late life" unit within the company to "develop new ways of working for safe and efficient operation with low carbon emissions from late life fields."

The plans for Statfjord will also conform with Equinor's plans to reduce CO2 emissions from the Norwegian offshore industry by 40% by 2030, Equinor added.

Equinor holds stakes of between 30% and 44% in the various Statfjord license areas; the other holders are Centrica PLC subsidiary Spirit Energy Ltd., Eni SpA subsidiary Vår Energi AS, Japan's Idemitsu Kosan Co. Ltd., Germany's Wintershall Dea GmbH and the state holding company Petoro AS.

Nicholas Coleman is a reporter with S&P Global Platts. S&P Global Market Intelligence and S&P Global Platts are owned by S&P Global Inc.