The Oseberg Area Unit partners will be investing in upgrades designed to provide increased gas production and reduced CO2 emissions. The plan for the Oseberg field was approved by the Ministry of Petroleum and Energy on Thursday, 1 December.
In November 2021, Equinor submitted an amended application on behalf of the partners in the Oseberg licence for development and operation of the Oseberg-field.
The partners will be investing NOK 10 billion in infrastructure upgrades on the field.
The installation of two new compressors on the Oseberg Field Centre will make it possible to lower the process pressure on the platform.
This means a 54 percent increase in the remaining recoverable gas and oil reserves from Oseberg after 2025. Emissions from Oseberg's production will be cut through a partial electrification of the Oseberg Field Centre and Oseberg South platform.
Oseberg is the third largest oil field ever in Norway, but the field also contains a lot of gas. Gas exports from Oseberg have increased significantly in recent years, from annual gas exports of approx. three billion cubic metres leading up to 2018, to about eight billion cubic metres in 2022.
This reconstruction will make Oseberg Norway’s third largest gas field, after Troll and Snøhvit, measured in remaining reserves.
Oseberg is expected to produce 100 billion standard cubic metres of gas between 2022 and 2040.
The annual production will be equivalent to the volume of energy from about one quarter of all Norwegian hydropower production.
So far, Oseberg has produced about 80 percent oil and 20 percent gas in historical production. Gas production has outweighed oil production since 2021, and the gas accounts for about 80 percent of the remaining recoverable reserves.
Start-up is scheduled for 2026.