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Equinor extends several oil and gas field life cycles

The oil major has extended the life cycles of multiple Norwegian shelf installations during the last three years, and several more will follow. This will secure thousands of jobs, Equinor informs.

Photo: Statoil

During the last three years, Norways' state-owned oil company, Equinor, secured approval from the country's Petroleum Directorate to extend the life cycles of eight rigs on the Norwegian shelf. Several of these had been intended for decommissioning but will instead continue to operate for many years yet, Equinor informs in a press statement. And the company now plans further life cycle extensions.

"Field life extension is an excellent way of managing resources, as it creates high value from established fields, where we cooperate with our suppliers on safe operation and lower emissions every single day. It also creates more activity offshore, in line with our ambition of pursuing our profitable and sustainable development of the NCS [Norwegian Continental Shelf, -ed.]," writes Arne Sigve Nylund, executive vice president for Development and Production Norway, in the press release.

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