Statoil has decided to close the Glitne oil field in the Sleipner area of the North Sea after extending its lifetime several times.

The field, located in blocks 15/5 and 15/6, started to produce oil in August 2001. It was intended that the field would produce for 26 months. However, it has been able to extend its lifespan and operate for more than 11 years.

According to the development and operation (PDO) plan, created in 2001, the expected lifetime of the field was up to three years.

New wells were drilled on the field in 2004, 2005, 2007 and 2012 and the total production amounted to 55 million barrels, which is more than double the original estimate.

The final well, drilled in 2012, however, showed the field to be no longer viable and the decision to close the field has now been taken.

Teekay Petrojarl Production, owner of the production and storage vessel Petrojarl, have received notice of termination of the Petrojarl 1 contract and been given a notice period of six months.

Statoil North Sea west operations senior vice president, Jannicke Nilsson, said the company has tried all possible means to recover its resources from the feild.

"We are highly satisfied with the efforts made to recover the last remaining drops of oil on this field," Nilsson added.

A total of seven wells are to be plugged in the field. Statoil (58.9%), Total E&P Norge (21.8%), Det norske oljeselskap (ten percent) and Faroe Petroleum Norge (9.3%) share stakes in the field.

Image: Production and storage vessel, Petrojarl 1, at the Glitne field in the North Sea. Photo courtesy of Øyvind Hagen.