Statoil to Close Glitne Field

Statoil announced Wednesday that it has decided to close the Glitne field in the Sleipner area of the North Sea after extending the field's life several times.

When Glitne first came on stream in 2001, it was intended that it would produce for 26 months but that it has been able to last this long illustrates just how far improved oil recovery (IOR) measures have come along, said Statoil. New wells were drilled on the field in 2004, 2005, 2007 and 2012, while total production amounted to 55 million barrels (more than double the original estimate).

But now Statoil has said the field will be closed within six months.

"As the field's lifetime draws to a close, we are certain that all possible means of recovering its resources have been tried. We are highly satisfied with the efforts made to recover the last remaining drops of oil on this field. Meanwhile it is important that we now set about winding down the field in a sound and professional manner," said Jannicke Nilsson, Statoil's senior vice president for operations North Sea west, in a statement.

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