Courtesy of statoil.com

The Statfjord A platform in the North Sea should have been shut down several years ago. However, Statoil, Centrica and ExxonMobil have decided to extend production from the platform until 2020.

Originally, the partnership hoped to recover 40% of the oil in the Statfjord field. The outcome so far is a record 66%. The global average for oil fields is 35%. The goal is to recover 74% of the gas from Statfjord.

"We are reaping the benefits of the efforts we have invested over many years in that we will now manage to recover even more of the resources in a manner that creates value for the owners and for society," says Atle Rettedal, director of production for the Statfjord field.

“Statfjord A is our oldest platform and represents the history of the company's inception. The extension means that Statfjord A will still be in operation when the new giant Johan Sverdrup comes on stream. The size of the Statfjord field is unique, making it a significant part of the history of the Norwegian shelf for 40 years. We will take the experiences from Statfjord with us in our work with Johan Sverdrup, which has a horizon of 40 years," Rettedal continues.

Statfjord has gone from its original status as an oilfield to the present, where mainly gas is produced and is sent to customers in Europe and in the UK.

The fact that the Statfjord field still has many years of production ahead of it is the result of the partnership's decision ten years ago to rebuild the entire field to produce gas.

An active drilling programme is contributing to the continued maturation of recoverable reserves on Statfjord. By the time 2013 draws to a close, Statoil will have drilled 11 wells, while 10 new wells are planned for 2014.

The Statfjord field has produced more than 4.7 billion barrels of oil equivalent. Statfjord A's highest producing well, A-06, has produced 120 million barrels on its own, more than many of the field developments we see today. The production record for a single day was set on 16 January 1987, when 850,204 barrels of oil were produced.

Statoil Petroleum AS (44.34%, operator), ExxonMobil Exploration and Production Norway AS (21.37%) Centrica Resources (Norway) AS (19.76%) and Centrica Resources Limited (14.53%).

Source: statoil.com