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60 percent of Statfjord's reserves already recovered

Sixty percent of the oil in Statoil's North Sea Statfjord field has now been recovered. This milestone was passed on April 13. Just under 3.8 billion barrels have been produced since the field's first platform came on stream in 1979. After reaching an output of more than 700,000 b/d of oil in the mid-1980s, production has declined to about 188,000 b/d. The water cut has steadily increased, however, and now accounts for 80 percent of the liquids produced. Statoil said the field had good quality Jurassic sandstones and easy flow conditions for oil and gas. Plans call for 15 additional wells and more than 100 downhole interventions during the year. The goal is to recover up to 68 percent of the stock tank oil originally in place in Statfjord. Opportunities will be assessed for maintaining production beyond 2012.