Statoil to Drill Golden Block for Reserve Growth

Published at 10:14AM - 25/08/16

Statoil is to drill the Golden Block on the go-ahead by the Norwegian Petroleum Directorate (NPD) to utilise the Gullfaks B platform on the North Sea Gullfaks field.

According to the Norwegian oil major, the facility can be operated profitably up to 2031 and possibly even longer with the further maturation of improved oil recovery (IOR) projects and other measures.

“The NPD believes that further operation of Gullfaks B is needed in order to recover the remaining resources on Gullfaks. The drilling rig has recently been upgraded and new wells are now being drilled from the facility,” NPD said in a statement.

Statoil Drills Golden Block for Reserve Growth

 According to the statement by NPD, the consent will expire on January 1, 2036, which corresponds to the duration of the field.

Additionally, final consent to the lifetime extension is contingent on approval from the Norwegian Petroleum Safety Authority (PSA), the NPD reported.

Statoil to Drill Golden Block on Hopes of Reserve Growth
Statoil’s Gullfaks B Production Platform in the North Sea

“The area has met all expectations and has created very significant values for the greater society through thirty years of production,” the statement reads further.

“If the facility is operated in a safe and cost-effective manner, there is a potential for reserve growth and extended production,” the statement read.

Gullfaks B Drilling Platform Gains Interest

“A major effort has been made in recent years to recover oil from the Shetland/Lisa reservoirs over Gullfaks. Gullfaks B could also be a relevant host platform for new deposits in the area,” the statement adds.

The Gullfaks B production platform first came on stream in February 1988 and is operated by Statoil with co-licencees Petoro and OMV Norge.

It is located in block 34/10, nicknamed the “Golden Block” when it was awarded to Statoil, Norsk Hydro and Saga Petroleum, due to the high interest in its acreage.

The block has been developed with three large concrete production platforms: Gullfaks A, Gullfaks B and Gullfaks C.

Meanwhile, three satellite fields have been developed with subsea wells remotely controlled from the Gullfaks A and C platforms.