Ivar Aasheim with Tord Lien. (Photo: Ole Jørgen Bratland; Statoil)

Statoil and its partners have decided to develop the Rutil discovery located in the Gullfaks Rimfaks valley in the North Sea. Providing close to 80 million barrels of oil equivalent, the development will extend the lifetime of the Gullfaks A platform.

The plan for development and operation (PDO) was submitted to the authorities today, 16 December.

“We are pleased about the investment decision we have made that will extend the period of profitable production on the Gullfaks A platform. By using existing infrastructure and standardized solutions we are able to create great value for our owners,” says Ivar Aasheim, senior vice president for field development on the Norwegian continental shelf (NCS).

“Statoil is currently implementing a major improvement effort to reduce costs and increase profitability to secure longterm activity and value creation on the NCS. The Gullfaks Rimfaks valley is a good example of this work,” underlines Aasheim.

Tags: Statoil