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Equinor sets out plans to transform Norwegian Continental Shelf operations

29/08/2018
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The Norwegian Continental Shelf has a rich production history, and it’s a history which Equinor wants to continue as it sets out its plans for Norwegian Continental Shelf operations for the decades ahead.
Equinor is looking to maximise the lifespan of its Norwegian Continental Shelf production assets.
(Image via Ole Jørgen Bratland & Equinor).

In a statement, Equinor described its plans as follows: 

‘Equinor is on track to maintain profitable production from the NCS at current levels towards 2030. After 2030 the NCS will enter a more mature phase. It is therefore necessary to introduce new measures to tackle the future challenges of declining production from the big fields, ageing installations and the need for reduced CO2 emissions.’

In order to prolong the operational life of the Norwegian Continental Shelf’s assets, Equinor is planning the following actions:

  • Drill up to 3,000 wells during the coming decades.

  • Extend the lifetime of more than 20 installations.

  • Drill 20-30 exploration wells annually and actively explore for gas.

  • Explore the possibilities of floating offshore wind and electrification as a means of reducing greenhouse gas emissions.

  • Increase the pace of digitalisation and use of new technology.

  • Strengthen and renew the competence in the workforce within traditional and new disciplines and conduct targeted recruitment to ensure new competence.

  • Of the plans, Arne Sigve Nylund, executive vice president for Development and Production Norway at Equinor, said:

    “Over the past years we have set ourselves tough targets on the NCS. This has paid off. We have improved operational efficiency, increased production, reduced CO2 emissions and matured a highly profitable project portfolio. This is the result of good dialogue with the authorities and good collaboration with our suppliers and employees. The NCS still holds a lot of potential, however securing value creation and thousands of jobs for the decades to come is not an easy task. The changes needed will be bigger than ever before and are necessary as we continue to develop a broad energy company.”

    “After 2022 there are currently few big projects remaining. The choices that we, the authorities, and the industry make today will be decisive. It is about stable framework conditions, investments and collaboration to develop new and innovative solutions. We have the expertise, platforms, pipelines, bases and onshore facilities, a competitive industry and a fast-developing technology. This gives us an excellent starting point when we set out new plans in order to maintain production and profitability as high as possible, while at the same time developing new renewable value chains on the NCS.”
    Equinor is planning a considerable amount of activity across the Norwegian Continental Shelf including the drilling of over 3,000 production and exploration wells.
    (Image via Ole Jørgen Bratland & Equinor).

    Like the UK Continental Shelf, we can expect the Norwegian Continental Shelf to be a source of oil and gas for years to come- as well as maintaining a good level of job opportunities for energy industry professionals.

    To put the planned activity into perspective, the 3,000 production and exploration wells that Equinor says it is going to drill is almost as many wells as the company has drilled since it was established just under 50 years ago! This drilling activity will likely have a ripple effect on the broader industry in the area too, as it will utilise existing fields, pipelines, bases and onshore facilities along the entire Norwegian coast.
    Equinor's plans for the Norwegian Continental Shelf will also require considerable job creation and training in new skillsets.
    (Image via Ole Jørgen Bratland & Equinor).

    New plans, new jobs

    Central to Equinor’s plans is a skilled and competent workforce. In order to achieve their objectives, Equinor will require ‘new skilled workers and strengthening of competences in the years ahead.’ This is especially important as by 2030 around half of today’s Equinor employees will have retired.

    “We will need new expertise in a range of traditional and new disciplines. We will do our part in supplying the energy and products that the world needs, while at the same time contributing to solve the climate challenge. We have a big and important task ahead of us that we must solve wisely. I believe that this is a challenge that appeals to young people and we can offer them this opportunity,” says Arne Sigve Nylund.

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  • Tags: Oil & Gas
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    Butambai, 29 August 2018
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