STAVANGER, Norway– Over the past three years, Equinor has received the authorities’ approval for extending the life of eight installations on the Norwegian continental shelf (NCS).
Several of these installations were originally scheduled for shutdown already, or in only a few years. Instead, the extensions will give many more years of operation on the NCS.
Arne Sigve Nylund, executive vice president for Development and Production Norway, said: “Field life extension is an excellent way of managing resources, as it creates high value from established fields, where we cooperate with our suppliers on safe operation and lower emissions every single day. It also creates more activity offshore, in line with our ambition of pursuing our profitable and sustainable development of the NCS.”
“It helps secure thousands of jobs offshore and onshore and considerable revenue to society, owners, and suppliers. As an example, Gullfaks is currently creating more than 1,500 jobs directly on three platforms, in addition to onshore jobs with Equinor and our suppliers and local spinoffs across the country,” said Nylund.
In 2018, Gullfaks produced oil and gas at a value of about NOK28 billion ($3.3 billion) and investments of NOK4.7 billion ($548 million) were made, according to Equinor.
The company plans to extend the life of more than 20 NCS installations in total. It is expected to apply for extending the life of all older and relevant installations by 2031.
Equinor has submitted applications for consent to the authorities for further operation of Vigdis, Tordis, and Veslefrikk. Applications for life extension of Troll B and Heidrun Subsea are scheduled to be submitted this year.
“Safe and efficient operation of our fields also form the basis for innovation relating to carbon capture and storage, floating offshore wind farms, and hydrogen,” said Nylund.
At this year’s capital markets update Equinor presented plans that will lead to record production from its operated NCS installations in 2025. Continuous focus on extending the life of our fields is one of the reasons, the company said, for its record production.
Years of extension