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Oil & Gas Discovery: Statfjord - 25 years of Norwegian Petroleum History

Posted on 25.11.2004 - 04:04 EST in OFFSHORE NEWS by Rons_ROV_Links

At 11 a.m. today, on November 24th, the Statfjord Field in the North Sea has produced oil for 25 years. The Statfjord Field is the world's largest offshore oil field.
According to first plans, production was to have ended several years ago, but now the field may get a new lease on life.

- I believe that in many ways the Statfjord Field created Statoil (Norway's national oil company). It gave us very valuable experience as operator on the Norwegian Shelf, and has made us able to take on other very important jobs as operators, also outside Norway, says Statoil Chief Helge Lund.
So far, oil worth NOK 1000 billion has been produced by Statfjord. This is equal to the accumulated value of the Norwegian National Oil Fund.
Of this, NOK 450 billion went directly into the state coffers as taxes and surtaxes.
With today's equipment and installations the production would now be coming to an end, but but with rebuilding and new investments on the three platforms, Statoil believes that the Statfjord Field will continue production until 2020.

24 November 2004

The Norway Post

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