The Norne oil field is located in the Norwegian Sea, approximately 80 kilometers from the Heidrun field, off the coast of Nordland. Initially, it was planned to stop producing crude oil at Norne as early as 2014. However, recent searches have shown that the deposits can be mined until 2036. This means that there is almost twice as much raw material there than initially assumed.
The first oil field in the north
The Norne oil field was the first production project north of Nordland. The commencement of exploitation of this area was also the beginning of the development of the oil industry in northern Norway. It was discovered in 1991, and the extraction of raw materials has been going on since 1997. 70 thousand. barrels a day. Initially, it was planned to close in 2014.
Mining since 1997
In 2015, however, Statoil announced that it was considering operating the field until 2030. Recent research indicates that the resources hiding under the seabed may be even twice as large as initially estimated. In practice, this means significant changes to Equinor's mining strategy.
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Confirmed information
Cape Vulture re-verified the resources of the Norne field. According to the main investor - Equinor - under the seabed there may be from 50 million to 70 million barrels of crude oil, which can be extracted without any obstacles. The latest reports are a pleasant surprise for the mining industry. As Siri Espedal Kindem - North Equinor Area COO says - “Cape Vulture made us an extraordinary gift in early 2017. After the research, they confirmed that the resources of the Norne oil field are almost twice as large as originally assumed. "
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The area has also been found to have gas resources estimated to be 80 million barrels. Both fields are located approximately 7 kilometers from the Norne oil field.
"It opens up new possibilities"
Nick Ashton - Director of the Norwegian and British Shelves at Equinor - is excited about this news. He admits that the latest discoveries significantly contribute to increasing the production capacity in the Norwegian Sea. He also acknowledges that the latest Cape Vulture reports will be of vital importance to Equinor's continued policy.
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