Equinor Secures Life Extension approval for Eight NCS Installations, Signs Transshipping Contract with Brazil’s Acu Petroleo

Norwegian authorities has given approval to Equinor for extending life of the company’s eight installations on the NCS or Norwegian Continental Shelf. The approval which was awaited by the company will help secure thousands of jobs associated with onshore and offshore operations and will allow it to operate on the NCS for a longer period.

The eight life extensions include Asgard A (2030), Norne (2036), Snorre A and B (2040), Oseberg East (2031) and Gullfaks A, B and C (2036). The approval will extend their life for 12-20 more years which were already scheduled for a shutdown.

Arne Sigve Nylund, the VP of Development and Production at Equinor, said that field life extension helps to create high value from already established fields which is an excellent way for resource management. The company cooperates with supplier for lower emission and safer operation every single day.

It creates more offshore activity to support the company’s ambition to pursue sustainable and profitable development of the Norwegian Continental Shelf.

The company intends to pursue extension of life of 20 new installations on the NCS by 2031. Equinor has already submitted applications for life extension of Veslefrikk, Tordis and Vigdis while applications for Heidrun Subsea and Troll B installations will be submitted in late 2019.

Nylund added that efficient as well as safe operation of fields is the foundation of their innovations related to hydrogen, floating offshore wind farms and carbon capture and storage technology.

Alongside, Equinor has also signed an oil transshipment service contract with Brazil’s Acu Petroleo to provide services at the Petroleum Terminal T-OIL in Port of Acu in Rio de Janeiro. The 36 month contract starts form January 2020 for servicing Equinor’s oil production in Roncador field.

As most of Equinor’s oil exports from Brazil passes through the Acu Petroleo terminal, the agreement will allow it to operate through very large crude carrier vessels and also class Suexmax.

The CEO of Acu Petroleo, Victor Snabaitis Bomfirm said that Equinor is the newest addition in customers choosing to use T-OIL’s modern and safe infrastructure. The addition of new client will help strengthen T-OIL’s commitment for care of environment and excellence in operations.

T-OIL is an oil transshipment operation handled by Oiltanking, a world class operator. The area is shelter by breakwater which enables safe and reliable operation along with securing cost reduction for clients. The terminal is licensed for 1.2 MMbopd and has the sufficient capacity to perform thee transshipment operations simultaneously.  

About the author

Nandini Roy Choudhury

Nandini Roy Choudhury

Nandini Roy Choudhury is a thought leader and subject matter expert on a range of industries, notably retail & consumer goods. Her analytical skills and lucid qualitative analysis have made her an authoritative figure on this domain.

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