Norwegian oil company Statoil has made a decision to extend the lifetime of its Veslefrikk field offshore Norway by seven years.
Statoil is the operator of the Veslefrikk field with 18% interest and its partners are Petoro (37%), Repsol Norge (27%), DEA Norge (13.5%), and Wintershall (4.5%).
According to a Tuesday statement by the country’s offshore union, Industri Energi, the partners in the field have approved the lifetime extension for the Veslefrikk field until 2025.
The union said the extension means a lot for those who work at the field. “We’re talking about about 200 jobs, which means a lot these days,” trade union’s section at Statoil, Industri Energi Statoil, said.
Statoil decided for the extension for the Veslefrikk field in late summer. This was followed by the approval of the extension from the licensees as well as the investment it entails. Therefore, the field will be operational until 2025, and beyond that it will be subject to annual estimate of profitability.
Veslefrikk lies in Norwegian North Sea block 30/3. The field came on stream in 1989 as the first development off Norway to use a floating production unit. Designated Veslefrikk B, this semi-submersible structure is tied to a fixed steel wellhead platform – Veslefrikk A.
Oil from the field is landed via the pipeline from the Oseberg development to the Sture terminal outside Bergen. Gas travels through the Statpipe system via Kårstø north of Stavanger to Emden in Germany.
Offshore Energy Today Staff