The Statfjord field was discovered in 1974 by Mobil, with Statoil taking ownership in 1987.
The field was developed with the Statfjord A, B and C production platforms, which began production in 1979, 1982 and 1985, respectively.
Recently, partners Statoil, Centrica and ExxonMobil celebrated the field reaching the five billion barrel mark since it hit first oil in 1979.
Record-Breaking Statfjord Keeps On Drilling
Statfjord has been on stream for over a generation and has even seen its life extended until 2025.
While originally, the companies had hoped to recover 40% of the oil at the field, the result is so far a record-high 67%.
“Statfjord was supposed to be shut down more than ten years ago. Instead, technology development, smart solutions and clever decisions have extended the productive life and increased the level of activity,” Statoil’s executive vice president for Development and Production in Norway, Arne Sigve Nylund, said during the celebration.
The field has increased its production for the fourth consecutive year, with 451 wells drilled and new profitable wells still being drilled today.
As well as this, the partnership has managed to reduce drilling costs by 50%.
The Largest Oil Find in the North Sea
Statfjord is one of the oldest producing fields on the Norwegian Continental Shelf (NCS) and also the largest oil discovery in the North Sea.
Oil production from the field is loaded into shuttle tankers on the field and shipped to a series of ports located in north-western Europe.
The Norwegian share of gas from the field is piped to the Kårstø processing complex located north of Stavanger and on to continental Europe, while the British share travels by pipeline via the Brent field to Scotland.
The reservoir lies at depths of 2,500 to 3,000 metres (8,202 to 9,842 feet), with roughly 80,000 barrels of oil per day (bpd) produced, considering all the licenses and all three Statfjord platforms and satellite fields, while roughly four million cubic metres (141,258 cubic feet) of gas are exported daily.