The Statfjord A platform in the North Sea actually should have been shut down several years ago. Statoil, Centrica and ExxonMobil have now decided to extend production from the platform until 2020.

“Statfjord A is our oldest platform and represents the history of the company's inception. The extension means that Statfjord A will still be in operation when the new giant Johan Sverdrup comes on stream. The size of the Statfjord field is unique, making it a significant part of the history of the Norwegian shelf for 40 years. We will take the experiences from Statfjord with us in our work with Johan Sverdrup, which has a horizon of 40 years," says Atle Rettedal, director of production for the Statfjord field.

Originally, the partnership hoped to recover 40% of the oil in the Statfjord field. The outcome so far is a record 66%. The global average for oil fields is 35%. The goal is to recover 74% of the gas from Statfjord.

"We are reaping the benefits of the efforts we have invested over many years in that we will now manage to recover even more of the resources in a manner that creates value for the owners and for society," Rettedal continues.

Tags: Statoil