The intent of the project is to boost production by 26 million barrels of oil equivalents from the satellite field of the Statfjord oil and gas field. The oil volume originally contained in Statfjord Øst is around 410 million barrels.
Equinor field life eXtension (FLX) senior vice president Camilla Salthe said: “The profitability is high, and the value of increased production equals around NOK 20 billion at the current oil price. This is good use of resources which provide ripple effects for Norwegian suppliers.”