Norway’s prime minister opening Equinor’s Johan Sverdrup field
Norway’s prime minister Erna Solberg will perform the official opening of the Johan Sverdrup field centre on Tuesday, and the Minister of Petroleum and Energy, Sylvi Listhaug, will also attend the opening.
Johan Sverdrup is the third largest oil field on the Norwegian continental shelf, with expected resources of 2.7 billion barrels of oil equivalent.
Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP, and Total started the field on October 5, last year, production has increased to a level well above 300,000 barrels per day, Equinor said in a statement on Tuesday.
According to Equinor, Johan Sverdrup is expected to yield a total production revenue exceeding NOK 1 400 billion and more than NOK 900 billion in revenue to the Norwegian state.
Expected recoverable Johan Sverdrup reserves are 2.7 billion barrels of oil equivalent. Two thirds of the oil from Johan Sverdrup are expected to be produced before 2030.
“Johan Sverdrup offers both high value creation and record-low emissions, making Johan Sverdrup a future-oriented oil field and part of the solution for reduced emissions. Electrification is an important tool for reaching Norwegian and international climate goals, aiming to reduce our greenhouse gas emissions in Norway by 40% by 2030, and close to zero emissions in 2050,” said Eldar Sætre, CEO of Equinor.
Arne Sigve Nylund, executive vice president for Development and Production Norway, said: “Digitalization offers new opportunities that few people deemed possible only a few years ago. It is necessary to secure the transformation we need to succeed in our future industrial activities and value creation on the Norwegian continental shelf.”
Digital solutions are integrated on the field. A “digital twin” provides a virtual real-time version of what is happening on Johan Sverdrup. This analytical tool helps improve safety, increase revenue and reduce emissions.
The field is expected to produce up to 660,000 barrels of oil per day in full production. Plateau production for phase 1 is up to 440,000 barrels of oil per day and is expected to be reached in the summer of 2020.
“We are working systematically on creating higher value from the field and achieving an optimal recovery rate. The field ambition is to reach a recovery rate above 70%,” said Nylund.
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