It’s Norway’s third largest oil field—ever. But what about the climate?
The Johan Sverdrup field is a technological triumph and a milestone for the Norwegian oil industry, supplying the world with energy, and creating value for society. It is expected to increase production to 470,000 barrels per day in Phase 1, at unprecented low cost and high quality.
Some people are saying we should stop producing oil altogether, for the sake of the climate. But we believe Johan Sverdrup is a prime example of exactly why we shouldn’t do that. Find out more below.
We know that the world must reduce use of hydrocarbons. So why are we so proud of our new oil field?
Less than 4%
Emissions per barrel produced, compared with world average
18 kg CO2
World average emissions per barrel produced
0,67 kg CO2
Emissions per barrel produced at Johan Sverdrup
Johan Sverdrup is now supplying countless countries with energy and raw materials. And benefitting society economically.
The world must fulfil the Paris Agreement — but we still need oil, to fill the gap left by rising energy demand and declining production. The Johan Sverdrup field will supply millions of people with the energy they need to live their lives, and in its estimated 50 year lifespan it will also generate significant financial income for Norway, thanks to the 78% marginal tax rate on the Norwegian oil industry.
Johan Sverdrup creates economic ripple effects in Norway:
in the development phase
to Norwegian suppliers
in the operational phase