Statoil announced Friday that the first phase of development for the Johan Sverdrup field was approved by Norway’s Ministry of Petroleum and Energy on August 20, 2015.
The Johan Sverdrup oil field, which is one of the five biggest oil fields on the Norwegian Continental Shelf, will be developed in several phases. Phase one consists of four bridge-linked platforms, in addition to three subsea water injection templates. First oil on the field is planned for late 2019 and daily production during the first phase is estimated to be between 315,000 to 380,000 barrels. Peak production at the field is estimated to reach 550,000 to 65,000 barrels per day, which will be the equivalent of 25 percent of all Norwegian petroleum production.
Despite the Norwegian government only giving the project formal approval yesterday, work on the field has already started, with a pre-drilling template being installed on the North Sea field last week. Major contracts have also already been awarded for the development.
Arne Sigve Nylund, Statoil executive vice president for development and production Norway, commented in a company statement:
“We are delighted that the development plan for the Statoil-operated Johan Sverdrup field has been approved. The field is of great importance and will generate substantial spin-offs and value for partners and society for more than 50 years. Focused efforts are now underway in the partnership to ensure that the opportunities and enormous values in the Johan Sverdrup field are captured.”
Oivind Reinertsen, Statoil senior vice president for Johan Sverdrup, said in a Statoil release:
“We are on schedule in the Johan Sverdrup development. The project activities will now be stepped up and more contracts will be awarded in the autumn. Last week the first piece of the Johan Sverdrup development, the pre-drilling template, was installed on the field in the North Sea. In addition the construction of the first jacket has started at Kvaerner Verdal. Contracts worth more than NOK 40 billion [$4.8 billion] have been awarded so far in the development, 75 percent of which have been landed by suppliers with Norwegian invoice addresses.”
The Johan Sverdrup partnership consists of Statoil (40.02 percent), Lundin Norway (22.12 percent), Petoro (17.84 percent), Det norske oljeselskap (11.89 percent) and Maersk Oil (8.12 percent). Johan Sverdrup, which is located just under 100 miles west of Stavanger, was discovered in 2010.
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