Norwegian Prime Minister Opens Equinor’s Johan Sverdrup Field

Equinor’s Johan Sverdrup field centre will be officially opened by Norway’s prime minister Erna Solberg today.

The Minister of Petroleum and Energy, Sylvi Listhaug, will also attend the opening, Equinor informed.

Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on October 05, last year, production has increased to a level well above 300,000 barrels per day.

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.

Johan Sverdrup is a pioneer in using technology and digitalization.

“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,” said Arne Sigve Nylund, executive vice president for Development and Production Norway.

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%,” added Nylund.

In the operating phase Johan Sverdrup may also create jobs corresponding to an average of more than 3 400 man-years per year.