Johan Sverdrup Startup Approved
Equinor received permission to start production at its Johan Sverdrup field this fall. The Norwegian Petroleum Directorate said on Monday (2 September) that the field, which holds between 2 and 3 billion recoverable boe and will account for approximately 40% of Norwegian oil production at its peak, could begin oil shipments in October, earlier than previously expected.
Back in July, co-owner Lundin Petroleum said in its 2Q 2019 report that Phase 1 of the megaproject was more than 90% complete, with the hookup and commissioning of installed facilities progressing as planned. The main installation activities for Phase 1 comprised four jackets and topsides, three subsea water injection templates, oil and gas export pipelines, and power supply from shore. Phase 2 of the project will involve a second processing platform bridge linked to the Phase 1 field center and subsea facilities to allow for the tie-in of additional wells to access three satellite areas of the field. First oil for Phase 2 is expected in the fourth quarter of 2022.
Norwegian authorities approved the plan for the development and operation (PDO) for Phase 2 in May, at the same time that construction began on the field’s second processing platform.
Last week, Equinor announced it had completed a previously announced sale of its stake in Lundin Petroleum, a co-owner of Johan Sverdrup. As part of the deal, Equinor paid $910 million to acquire an additional 2.6% ownership share in the field from Lundin.
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20 May 2020
20 May 2020