Oil exploration in the location where Gullfaks main field occupies started after the discovery of Brent Field in 1971. Hence, revealing the prospects of occurrence of Middle Jurassic Brent group sentiments, which are significant and highly rich hydrocarbon reservoirs. The first licensing that saw inception of drilling was in 1978 whereby the first well (34/10-1) managed to go through Jurassic section and encountered approximately 160 m width of oil-filled Brent sandstones region. This comprised of a column, which extends to the basement of Brent Group. Other four wells that followed the initial well were 34/10-3, -4, -5 and -6 whose respective locations are in the western region. The main operator of this field is Statoil, which took over its full operations in 1981 turning it to be the third largest state’s field located in the Northern Sea whose capacity was twice that of Angola (Vassiliou, 2009). Since, then up to date the field stand in the Norwegian history as the first oil reserve developed and managed by one of the state’s corporations successfully. This is to the extent of Norway becoming the third net oil exporter in 2001 whereby its yield reached approximately 223,000 bpd in 2002. The location of main field lies at 34/10 block in the Northern Norwegian Sea, whereby after exploration the main operator (Statoil) spearheaded development of other three key concrete platforms, which are Gullfaks A, Gullfaks B, Gullfaks C respectively (Statoil, 2013).
Statoil acts as the main operator due to its big number of shares though there are other partners whose holdings are as per the table below.