The Norwegian Petroleum Directorate has granted its approval for the start-up of the Johan Sverdrup subject in the North Sea. The sector is expected to supply oil for the following 40 years.
Operator Equinor plans start-up someday this autumn for the first part of the field development. Construction section two is slated to commence in the fourth quarter of 2022.
“The Johan Sverdrup subject is a brilliant instance of the possibilities and the values that may be achieved via exploration of mature petroleum provinces on the shelf,” mentioned Ingrid Sølvberg, director, development, and operations within the Norwegian Petroleum Directorate.
Sølvberg mentioned that Johan Sverdrup is the third-largest oil field on the Norwegian shelf – measured in reserves. Solely Statfjord and Ekofisk, each additionally within the North Sea, are more substantial.
Based on Equinor, funding prices for development of the primary stage of the construction are assumed to be NOK 83 billion.
Estimates point out that the entire recoverable reserves are about 430 million standard cubic meters of oil equivalents (2.7 Bbbloe.)
About 95% of that is oil, 3% is dry gasoline, and the remaining is NGL (Natural Gas Liquids). The sphere has a production capability of 105,000 cubic meters of oil per day (660,000 bbls per day).
The Johan Sverdrup development is being carried out in two levels of the building. The first construction stage includes a field center with four installations related by bridges. The four installations are a living quarters platform with auxiliary systems, a process the platform, a drilling platform, and a riser platform.