Gullfaks is a producing conventional oil field located in shallow water in Norway and is operated by Equinor Energy. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block 34/10P (PL 050) and 34/10P (PL 050 B), with water depth of 751 feet. Buy the profile here.

An expansion project is associated with the Gullfaks, namely the Gullfak IOR Phase 2. This project is currently in the approval stage.

Field participation details

The field is owned by Equinor, OMV and Petoro.

Production from Gullfaks

The Gullfaks conventional oil field recovered 97.85% of its total recoverable reserves, with peak production in 1994. The peak production was approximately 529.43 thousand bpd of crude oil and condensate, 195.00 Mmcfd of natural gas and 7.72 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2029. The field currently accounts for approximately 1% of the country’s daily output.

Remaining recoverable reserves

The field is expected to recover 55.67 Mmboe, comprised of 55.67 Mmbbl of crude oil & condensate. Gullfaks conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.

Contractors involved in the Gullfaks conventional oil field

Some of the key contractors involved in the Gullfaks project as follows.

Other Contractors: Halliburton, John Wood Group, Baker Hughes, CGG and Moreld Apply

About Equinor Energy

Equinor Energy AS (Equinor Energy) is a wholly-owned subsidiary of Equinor ASA. The company provides oil and gas exploration and production services. It extracts, refines, and transports natural gas, crude oil, and wind power for manufacturing of synthetic fabrics, plastics, asphalt, cosmetics, and medicines. Equinor Energy is headquartered in Stavanger, Norway.

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.