Statoil to 'pump up' Gullfaks spend

Set for upgrade: the Gullfaks B platform

STATOIL

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By Steve Marshall and news reports

 12 December 2012 13:39 GMT

Statoil is reported to be targeting additional investments totalling Nkr20 billion ($3.6 billion) on its veteran Gullfaks field off Norway as it seeks to boost recovery and curb the risk of further leaks from the high-pressure reservoir.

The state-owned operator is already pumping Nkr15 billion into four projects being implemented at the North Sea field with the aim of extracting another 142 million barrels of oil equivalent and extending its producing life.

Further projects are now being planned that would boost the investment figure to Nkr35 billion, including a new subsea facility and upgrades to the field’s three platforms – Gullfaks A, B and C – with the schemes still being matured by management, Teknisk Ukeblad reported.

The oil and gas field, which came on stream in 1986, may still be only halfway through its producing life, according to…

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