Due to higher plant capacity, plateau production will increase from around 440,000 barrels of oil per day to around 470,000 barrels per day. Plateau production was previously expected to be reached during the summer. At the end of March, daily production had already exceeded 430,000 barrels of oil.
“Johan Sverdrup is an important project to the companies, the industry and society at large. The project was sanctioned during the oil price fall in 2015 and resulted in important activity to the supplier industry in a demanding period. With low operating costs Johan Sverdrup provides revenue and cashflow to the companies and Norwegian society at large in a period affected by the coronavirus and a major drop in the oil price. In today’s situation, cooperation between operators, suppliers and authorities is more important than ever to maintain activity and value creation,” says Arne Nylund, Equinor’s executive VP for Development and Production Norway.
“Field production has been very good and stable from day one, and the wells have produced even better than expected,” says Rune Nedregaard, vice president for Johan Sverdrup operations. “We are currently completing the tenth well. This work is progressing smoothly, helping reach higher production earlier than expected. We also expect to increase plant capacity, allowing plateau production to increase from the previously expected 440,000 barrels to around 470,000 barrels of oil per day.”
The Johan Sverdrup field came on stream on 5 October last year, more than 2 months ahead of the original schedule and NOK 40 billion below the original estimate for development and operation (PDO August 2015).
At plateau in phase 2 the field will produce 690,000 barrels of oil per day. Expected recoverable reserves in the field are 2.7 billion barrels of oil equivalent.
Johan Sverdrup is the 3d largest oil field on the Norwegian continental shelf, with expected resources of 2.7 billion barrels of oil equivalent. At plateau the field is expected to produce 690,000 barrels of oil per day, which will make up about one-third of oil production on the NCS.
Included the development of four platforms (accommodation and utility platform, processing platform, drilling platform, riser platform), three subsea installations for water injection, power from shore, export pipeline for oil (Mongstad) and gas (Kårstø).
Includes development of another processing platform (P2), modifications of the riser platform and the field centre, five subsea templates, in addition to the power-from-shore supply to the Utsira Highby 2022.
Contracts awarded so far in phase 2 amount to more than NOK 20 billion. 85% of the contracts have been awarded to suppliers in Norway.
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