The Norwegian Petroleum Directorate said yesterday that it has granted Equinor a continuation for the use of the Oseberg Ost facility.
The extension has been granted until the 31 March 2031 for the rig, situated in the Northern North Sea.
The directorate said it believes there is “a basis for continuing operations on Oseberg Ost to recover remaining resources in the field”.
The Oseberg Ost is located nine miles from the Oseberg field.
The remaining oil reserves in the basin are estimated at 31 million barrels.
The field was proven in 1981 and production started in 1999
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- OPEC decision: how much more oil will this bring the market?
- OPINION: Decom giveaway laudable, but surely better to leave in place
- OPINION: Microsoft data centres – why Orkney?
- Propelling innovation through gender diversity offshore
- Opinion: Firms must strive to attract workers back to sector as skills shortage looms