Norwegian oil giant Statoil has reported the start of procurement from its Skinfaks/Rimfaks project in the North Sea, with first oil coming from Rimfaks' improved oil recovery.

In addition to the improved oil recovery (IOR) at the Rimfaks field, the project also marks the start of Skinfaks field production. All wells will be on stream in the course of autumn 2007.

By combining Skinfaks development with several Rimfaks wells we’ve achieved an economic development of two satellites which individually would have been marginal, say Lars Christian Bacher, senior vice president for the Tampen business cluster.

The development is an important measure for increasing oil recovery in the area. The project secures good exploitation of the Gullfaks area infrastructure, with small investments.

When all project wells are completed, Rimfaks IOR and Skinfaks production will represent around 35% of the Gullfaks license’s oil production via the Gullfaks C platform. Recoverable reserves are estimated at around 62 million barrels of oil equivalent.