Norwegian energy firm Equinor and its partners have approved plans to extend production from Statfjord oil and gas field in the UK North Sea until 2040.

Equinor owns and operates 44.33% of the Statfjord field. Other partners include Spirit Energy Norway (34.29%) and Vår Energi (21.36%).

Operations within the field will be reorganised with the introduction of a new late-life unit at Equinor. It expects this move to strengthen the Statfjord field.

The new unit will aid in the recovery of resources from Equinor’s fields operating on the NCS. It will also be responsible for decommissioning installations on the Veslefrikk and Heimdal projects.

Equinor Norwegian continental shelf (NCS) executive vice-president Arne Sigve Nylund said: “We have a responsibility to society and our owners for realising the full value potential from our producing fields on the Norwegian continental shelf (NCS).

“Statfjord is a world-class oil and gas field that has supplied the world with huge amounts of energy. The field has created high value and been a cornerstone in the development of the entire Norwegian petroleum industry.”

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By GlobalData

Equinor said that it will delay the decommissioning of Statfjord A platform until 2027 from 2022. It also said that it will extend production from Statfjord B and Statfjord C to 2035.

Equinor Industri Energi employee representative and leader Per Martin Labråthen said: “Jobs on the NCS are highly profitable and important to Norway, so this is a good decision for us.

“It is good social economics to utilise the NCS infrastructure we have invested in, to make optimal use of the Norwegian community’s resources.”

Equinor and partners have created a plan for reducing CO2 emissions throughout the late-life period of the field. They included this in the extension plans.

This initiative ensures that the oil and gas field operates within the limit of Equinor’s new NCS climate goals.