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Statoil recommended as Johan Sverdrup operator

November 28, 2014, 13:54 CET

Their agreement will be included in the Unit Operating Agreement (UOA), which is planned to be submitted to the authorities in February 2015 together with the Plan for Development and Operation (PDO).

Statoil will cooperate closely with its partners in order to secure the best possible utilisation of the resources on Johan Sverdrup. The goal is to achieve a recovery factor of at least 70% from the field.

The field development plan includes a field centre that will carry out the most important functions while also allowing for the subsequent connection of various installations during the development’s different phases. This integrated solution will ensure efficient field development and operation.

Statoil’s plan is to establish a production organisation for the field in Stavanger, while at the same time drawing upon the considerable expertise of its partners and the supplier industry.  Johan Sverdrup will represent a powerhouse of value creation and employment in Norway for many decades to come.

Partners:

Production licence 501/501B: Lundin Norway (operator, 40%), Statoil (40%), Maersk Oil (20%)

Production licence 265: Statoil (operator, 40%), Petoro (30%), Det norske oljeselskap (20%), Lundin Norway (10%)

Production licence 502: Statoil (operator, 44,44%), Petoro (33,33%), Det norske oljeselskap (22,22%)

Facts about the Johan Sverdrup field

– Covers PL 265, PL 501, PL501B and PL502. Statoil is operator in the planning phase

– Located on the Utsira High in the North Sea, 155 km directly west of Stavanger

– Johan Sverdrup is an oil field consisting of 95% oil and 5% rich gas

– The resource estimate for the entire field is between 1.8 and 2.9 billion barrels of oil equivalent

– Johan Sverdrup is among the largest oil discoveries ever made in the history of the Norwegian continental shelf, probably among the top five oil fields

– On plateau Johan Sverdrup will account for 25% of the total oil production in Norway

– Production start is scheduled for the end of 2019