Statfjord: Norway’s drive to maximise recovery rates from her mature fields
In the oil and gas industry today, 70 per cent of the world's oil reserves are located in mature fields – assets where production has reached its peak and has started to decline. As things stand that accounts for in excess of 63 million barrels-worth of oil production per day.
Nowhere are the challenges presented by mature fields more acutely felt than on the Norwegian Continental Shelf (NCS), where the majority of the 69 fields in production today are classified as mature. In 2001, production on the NCS reached a peak of 3.4 million barrels per day. As of January 2013, Norwegian assets were producing only 1.4 million barrels of oil per day – roughly a 5 per cent year-on-year decrease over a 12 year period.
In this white paper, find out how enhanced oil recovery on Norway's mature Statfjord field will be a microcosm of the nation's economic future.