Discussion – 


Discussion – 


Oseberg Crude Oil: Oseberg Oil Field Value on Benchmarks

The Oseberg oil and gas field is located in the North Sea and happens to be the third biggest oil producer on the Norwegian Continental Shelf (NCS). Production started in 1988 and still continues to this day. It is currently operated by Equinor Energy, Norways national oil company.
Equinor own almost 50%, with Petoro and TotalEnergies holding minority stakes of 33% and 15% respecively. 
ExxonMobil markets approximately 5 kbd of this production.

Oseberg Crude Oil Blend

Oseberg produces oil and gas from sandstone of Middle Jurassic age in the Brent Group. You can find the full assay at https://ts.totalenergies.com/wp-content/uploads/2021/07/OSEBERG.pdf


Oseberg is a light, intermediate low-sulfur North Sea crude oil similar in quality to Brent, with a Gravity of 39.6 and Sulfur of 0.20%


Oseberg Production and Transportation

Offshore output of about approximately 150 kbd is a blend of crude from the Oseberg, Brage and Veslefrikk fields.
The Crude oil is transported by a 700 kbd pipeline to the Norwegian coast (Sture Terminal) for loading. 
Sture Terminal, located at 130 km west of Bergen on the northwest coast of Norway, is loaded with 5 million barrels of oil and has storage space of 700,000 barrels while a deadweight tonnage limit of 300,000. Crude oil piped to the deepwater terminal at Sture on the West Coast of Norway can be readily exported from northwest Europe, the Middle East, North Africa, or Asia.

Oseberg Oil Field Exploration

Oseberg was discovered in 1979, and the strategy for planning and creation (PDO) was approved in 1984. Groundbreaking was done in several phases, and production began in 1988. The reservoirs lie at a depth of 2,300-2,700 metres and have generally good reservoir quality.

The Oseberg Field Centre

The Oseberg field centre includes 3 platforms (detailed below) and 6 subsea installations with a total of 21 wells, that make up the network.

Oseberg South

The Oseberg South platform in the North Sea came on stream in the winter of 2000. It is located 13 kilometres south of the Field Centre, and started oil and gas production in 2000
The conceptual plan for the development of the Oseberg South field, which includes the Oseberg field and a number of structures south of the field, includes an integrated drilling, residential, and production platform with a steel jacket.
The J, K and Stjerne subsea installations on the Oseberg South platform are tied into the system. 14 wells will be possible there, while 32 are planned at the Oseberg South platform.

Oseberg C

Oseberg C is located 13 kilometers north of Oseberg Field Centre and its production started in 1991.
It is an integrated platform that houses a cabin, distillation, and pumping facility upon a steel superstructure. Oil is produced from 18 exceptions; oil, gas, and condensate from certain exceptions are transported through a three-phase pipeline to the Oseberg crude oil facility in a multi-phase arrangement for production. For other exceptions, gas and trunk gas are injected in main facilities in the field and are increased by oil from facilities located in the centre.

Oseberg East

Located 25 kilometers northeast of the Field Centre, Oseberg East started production in 1999. It is the smallest platforms in the area. 
The development concept utilizes an integrated drilling, accommodation, and production platform with facilities for first-stage processing. The oil production undergoes second and third-stage processing on the Oseberg Field Centre before it is transported by pipeline to Sture terminal. Water and gas are injected into the reservoir to improve oil recovery.


Oseberg Crude Oil Price

The Oseberg oil and gas field is located in the North Sea is the third biggest oil producer ever on the Norwegian Continental Shelf (NCS). Its price is included in the basket of crude for Dated Brent and often includes a quality premium. Cargoes are typically loaded using Equinor’s terms and sold as Oseberg CIF or Oseberg FOB. Differentials to Brent Crude oil are also available through price reporting agencies.



Thanvir has 20 years of experience with some of the largest energy and financial information providers. Founder and CEO of Phycomex, where he is trusted by commodity traders, financiers, consumers, and refiners to help optimise procurement.


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