The Norwegian Petroleum Directorate (NPD) has given the go-ahead for using the oil & gas platform on the Gullfaks field in the North Sea until 1 January 2036, which corresponds to the length of the production license.
Gullfaks B first came on stream in February 1988. In the application for extension, the operator Statoil notes that the facility can be operated profitably up to 2031, and possibly even longer with further maturation of IOR projects and other measures.
The NPD believes that further operation of Gullfaks B is needed in order to recover the remaining resources on Gullfaks. The drilling rig has recently been upgraded and new wells are now being drilled from the facility.
If the facility is operated in a safe and cost-effective manner, there is a potential for reserve growth and extended production. A major effort has been made in recent years to recover oil from the Shetland/Lista reservoirs over Gullfaks. Gullfaks B could also be a relevant host platform for new deposits in the area.
Block 34/10 was nicknamed the "Golden Block" when it was awarded to Statoil, Norsk Hydro and Saga Petroleum in 1978, with Statoil as the operator. The Gullfaks area has met all expectations, and has created very significant values for the greater society throughout thirty years of production.
The current licensees on the field are Statoil, Petoro and OMV Norge.
Final consent to the lifetime extension is contingent on approval from the Petroleum Safety Authority.