Equinor Says Production at Johan Sverdrup Will Hit 500,000 B/D This Year
November 18 2020 - 5:01AM
Dow Jones News
By Dominic Chopping
Equinor said Wednesday that the Johan Sverdrup field on the
Norwegian continental shelf is increasing its daily production
capacity, and is expected to reach around 500,000 barrels of oil
per day by the end of the year, from 470,000 currently.
The giant Johan Sverdrup field came on stream in October last
year and was expected to have an output capacity of 440,000 barrels
a day. The field has already produced oil worth more than 50
billion Norwegian kroner ($5.52 billion).
Phase 2 of the field development is on schedule, and production
start is scheduled for the fourth quarter of 2022, it said.
The increase means that the Johan Sverdrup full-field plateau
production capacity is expected to rise to around 720,000 barrels
of oil per day, from 690,000 previously.
"Based on the positive results of the capacity test where we
produced at rates of over 500,000 barrels of oil per day, we are
now working on solutions to increase the water injection capacity
which should allow us to further increase daily production capacity
beyond this level by mid-2021," said Rune Nedregaard, vice
president for Johan Sverdrup operations.
Equinor is operator of the field with a 42.6% interest. Lundin
Energy Norway holds a 20% stake in the field, with 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
November 18, 2020 04:46 ET (09:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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