Equinor: starts phase I of Johan Sverdrup field
(CercleFinance.com) - Total has announced that phase I of the production of the giant field of Johan Sverdrup, a project in which it has a stake, has started over two months ahead of schedule, with a budget over 30% less than that originally planned.
In all, 10.5 billion dollars has been invested and production plateau will be 440,000 barrels of oil equivalent (boe) per day. Johan Sverdrup is operated by Equinor, which has the largest stake (42.6267%), alongside Total (8.44%), Lundin Norway, Petoro and Aker BP.
Located 150 kilometres from the Norwegian coast, Johan Sverdrup's total recoverable reserves amount to 2.7 billion boe. Phase II is already under development and is expected to increase production capacity by 50% by 2022 to 660,000 barrels per day.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In all, 10.5 billion dollars has been invested and production plateau will be 440,000 barrels of oil equivalent (boe) per day. Johan Sverdrup is operated by Equinor, which has the largest stake (42.6267%), alongside Total (8.44%), Lundin Norway, Petoro and Aker BP.
Located 150 kilometres from the Norwegian coast, Johan Sverdrup's total recoverable reserves amount to 2.7 billion boe. Phase II is already under development and is expected to increase production capacity by 50% by 2022 to 660,000 barrels per day.
Copyright (c) 2019 CercleFinance.com. All rights reserved.