EQNR Equinor ASA

By Dominic Chopping

Norwegian oil-and-gas major Equinor ASA said Thursday that it is expecting a third capacity increase at the Johan Sverdrup field on the Norwegian continental shelf.

The giant Johan Sverdrup field came on stream in October 2019 and was expected to have an output capacity of 440,000 barrels a day. The field is now expected to increase its daily production capacity up to 535,000 barrels of oil by mid-2021.

"This increase is possible because the field production has been very good and stable from day one, and the wells have produced even better than expected," said Rune Nedregaard, vice president for Johan Sverdrup operations.

Equinor is an operator of the field with a 42.6% interest. Lundin Energy Norway holds a 20% stake in the field, Petoro holds 17.36%, Aker BP ASA holds 11.5733% and Total SE holds 8.44%.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

January 28, 2021 04:33 ET (09:33 GMT)

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