We’re celebrating the opening of Norway’s third largest oil field. It’s a technological triumph and a milestone for the Norwegian oil industry, supplying the world with energy, and creating value for society.
But what about the climate?
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.
World energy demand is rising, as people around the world increase their standard of living. And even though renewables are increasing rapidly, they can’t keep up yet — while oil production from existing fields is falling.
That’s why the Paris Agreement is quite clear that there will still be a need for oil in the world energy mix. And that that oil must be produced with as few emissions as possible.
This is where Johan Sverdrup comes in. Its CO2 emissions from production are up to 90 % lower than the world average — showing just how important technological innovation can be to finding solutions to the climate challenge, and how the Norwegian oil industry has an important role to play.