Green Light from UK for Statfjord Late Life
The Statfjord late life project in the North Sea was approved by the UK authorities on June 17th. The Norwegian authorities sanctioned the project earlier this month.
Fifteen percent of the Statfjord field extends into the UK sector, and a treaty between the Norwegian and British authorities regulates overall management of the field.
Statoil and its partners submitted plans for Statfjord late life to the authorities in both countries in February.
The British Department of Trade and Industry is responsible for sanctioning the changed plan for development and operation of the Statfjord field, which entails the pressure in the reservoir being lowered to recover as much as possible of the field's remaining reserves.
The ambition is to achieve a recovery factor of close to 70 percent for the oil, and 75 percent for the gas.
Operates 1 Offshore Rigs
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