Equinor to invest $343 million in Statfjord Ost

Equinor Energy AS and partners will invest $343 million in North Sea Statfjord Ost field to improve recovery by 23 million boe. As part of the project, four new wells will be drilled from existing subsea templates between 2022 and 2024. Statfjord Ost comprises Production Licenses 037 and 089 and is 3 miles northeast of Statfjord C. It is tied back to the Statfjord C platform by pipelines. The project also includes modifications on Statfjord C and a new pipeline for gas lift. Production from the new wells is scheduled to start in 2024.

Statfjord Ost came on stream in 1994. Original oil volume in place was 415 million bbl oil with 56% current recovery factor. The new project is expected to increase recovery factor to 62%.

Written notification of material changes to the plan for development and operation for Statfjord Ost was submitted to the Ministry of Petroleum and Energy earlier this month.

Equinor is operator in Statfjord Ost (31.6875%) with partners Petoro AS (30%), Var Energi AS (20.55%), Spirit Energy Norway AS (11.5625%), Idemitsu Petroleum Norge AS (4.8%), and Wintershall Dea Norge AS (1.4%).