Approaching start-up for Johan Castberg

Equinor and its partners Vår Energi and Petoro expect the Johan Castberg field to come on stream in January/February 2025.
The Johan Castberg FPSO (floating production, storage and offloading vessel) was anchored on the field in the Barents Sea in September.
The FPSO has been hooked up to the subsea facility and the project is now in a final phase towards start-up.

”Norway's role as a reliable and long-term energy supplier will be strengthened when Johan Castberg comes on stream. The field opens a new province for oil recovery and will be an important starting point for several opportunities in the Barents Sea. We have made new discoveries that we are in the process of turning into future tie-backs to Johan Castberg” says Geir Tungesvik, Equinor's executive vice president for Projects, Drilling and Procurement.
So far 14 wells have been drilled on the field, 12 are already ready for production, which is sufficient to bring the field to plateau production (220 000 barrels per day) Estimated recoverable volumes in Johan Castberg are between 450 to 650 million barrels of oil.
"We are now in the final phase of completion. The operations have been somewhat delayed by bad weather. Our plan is to start up Johan Castberg in January/February 2025, " says Tungesvik.
Latest news

Equinor’s Capital Markets Day 2026
Equinor ASA today presents its strategy to deliver more energy, growing cash flow and superior returns. The 2026 share buy-back will be doubled to USD 3 billion, and Equinor introduces a more predictable framework for annual share buy-backs from 2027. The company aims to continue growing the quarterly cash dividend by more than 5% per share annually.

Further development of Johan Sverdrup
New volumes in the Johan Sverdrup area provide the basis for Johan Sverdrup phase 4. Equinor and the partnership are now maturing a new subsea development that will help maintain production and value creation from Norway's largest oil-producing field. This also contributes to Europe's energy security.

Energy Perspectives 2026 presents diverging pathways for global developments to 2050
Energy Perspectives 2026 explores how shifting geopolitical and economic dynamics shape long-term developments toward 2050. The analysis presents possible pathways, not predictions.