The Norwegian Petroleum Directorate (NPD) has given the green light for the use of the Gullfaks B platform in the North Sea until January 1, 2036.
NPD said on Thursday that the lifetime extension corresponds to the length of the production license.
In the extension application, Statoil noted that the platform can be operated profitably up to 2031, and possibly even longer with further maturation of IOR projects and other measures.
NPD added that further operation of Gullfaks B is needed to recover the remaining resources on the field. Also, the drilling rig has recently been upgraded, and new wells are now being drilled from the rig.
The organization added that there is a potential for reserve growth and extended production and that Gullfaks B could also be a relevant host platform for new deposits in the area.
Block 34/10 was awarded to Statoil, Norsk Hydro, and Saga Petroleum in 1978 with Gullfaks B coming on stream in February 1988. Gullfaks is an oil field located in the Tampen area in the northern part of the North Sea. The water depth in the area is 130-220 meters. The field has been developed with three integrated processing, drilling and accommodation facilities with concrete bases and steel topsides (Gullfaks A, B, and C).
The current licensees on the field are Statoil as the operator with a 51 percent stake, Petoro with 30 percent, and OMV Norge with 19 percent.
The final consent to the lifetime extension is contingent on approval from the Petroleum Safety Authority.