Equinor ASA has agreed with Lundin Petroleum AB to divest a 16 percent shareholding in Lundin Petroleum for a direct interest of 2.6 percent in the Johan Sverdrup field and a cash consideration of around USD 650 million.
On behalf of the Johan Sverdrup licence, Equinor is awarding the contract for subsea pipelines and associated marine operations in the second project phase to Subsea 7.
Equinor awards a contract for services within insulation, scaffolding and surface treatment (ISO) on the Johan Sverdrup field to Kaefer Energy AS.
What is probably the busiest installation campaign for any project on the Norwegian Continental Shelf is now complete. Ahead lies among other things extensive testing and commissioning of the field centre – to make sure the four platforms function as one – in preparation for production start-up expected in November 2019.
2019:
2018:
2017:
2016:
2015:
Johan Sverdrup - the making of a giant (2018 and 2019)
Johan Sverdrup - a tour inside the largest living quarter on the NCS
Building Johan Sverdrup
According to the consultancy Agenda Kaupang, the Johan Sverdrup development may generate employment in Norway of more than 150,000 man-years during the construction phase of 2015-2025. In the first phase of the development, 70% of the contracts were awarded to suppliers in Norway. In phase two, the percentage of contracts going to suppliers in Norway may well exceed 85%. During the period 2016-2018, the main construction phase of the first phase of the project, more than 12,000 people around the world contributed to Johan Sverdrup each and every day. During operations, Johan Sverdrup may contribute to employment of more than 3,400 people on average each year. The field is also expected to generate income to the Norwegian state and society exceeding NOK 900 billion over the lifetime of the field.
The field will be operated by electrical power generated onshore, reducing offshore emissions of climate gases by 80%—90% compared to a standard development utilising gas turbines on the NCS.
During the construction phase (2015-2025) Johan Sverdrup may generate employment equivalent to more than 150,000 man-years in Norway (Agenda Kaupang, 2017).
Johan Sverdrup is one of the largest oil discoveries ever made on the NCS.
Power from shore helps reduce emissions from Johan Sverdrup estimated at more than 620,000 tons CO2 per year, equivalent to the emissions of more than 310,000 private cars.
Peak production will constitute 25% of all Norwegian petroleum production at the time.
Our digital ambitions and technologies are being implemented and realised throughout the Johan Sverdrup project
A new adventure on the Norwegian continental shelf (NCS):
When we first discovered oil in the North Sea, few people in Norway foresaw the growth and affluence that this venture would bring to the country.
We are the operator of both phases of the Johan Sverdrup development.
In many ways, Johan Sverdrup represents the sum total of 40 years' development and activities on the Norwegian continental shelf.
The discovery of the giant Johan Sverdrup field in the North Sea in 2010—2011.
It will endure as a milestone in the history of the Norwegian oil industry.
Even in a two-degree scenario, the world will be dependent on oil and gas for many years to come. Oil is necessary for transport, in food production and for the production of plastics and other products that we use in our daily lives—but the world’s production of oil and gas is falling. Even in a low-carbon future, the world will still require new oil fields equivalent to 20 times Norway’s current total production in 2035. With one of the world’s lowest carbon emissions from production, Johan Sverdrup will be one of the most important oil fields providing sufficient energy for a growing global economy.
The Johan Sverdrup field is powered from shore, placing it among the oil and gas fields with the lowest CO2 emissions in the world. Emissions from production of oil and gas from Johan Sverdrup average only 0.67kg CO2 per barrel, which compares with average emissions on the Norwegian Continental Shelf of 9kg CO2 per barrel and globally of about 18kg CO2 per barrel.
In the second phase of the development, the Johan Sverdrup field will also supply shore power to other fields on the Utsira High, including the Edvard Grieg, Gina Krog and Ivar Aasen fields. Emission reductions from Johan Sverdrup alone are estimated at more than 620,000 tonnes of CO2 on average per year, corresponding to annual emissions from more than 310,000 private cars.
40.0267%
Equinor (operator)
22.6%
Lundin Norway
17.36%
Petoro
11.5733%
AkerBP
8.44%
Total