King of Norway to open Equinor’s Johan Sverdrup field

On the 7th January 2020, King Harald V will perform the official opening of the Equinor-operated Johan Sverdrup field centre located offshore Norway.


Norway’s Prime Minister Erna Solberg and the Minister of Petroleum and Energy Kjell-Børge Freiberg will also be present, Equinor said on the 9th December.


The official opening will take place at the field centre in the North Sea. Equinor and its partners Lundin Norway, Petoro, Aker BP, and Total will invite guests and field centre personnel to attend the opening.


The event will start with lunch on board, followed by an official opening ceremony and a guided tour of the field centre.


Production on Johan Sverdrup started on the 5th October this year.


The field is developed in two phases. Norwegian authorities approved phase II of the development in May 2019 with production start-up expected in the fourth quarter of 2022.


The field has expected recoverable reserves of 2.7 billion barrels of oil equivalent, and the full field can produce up to 660,000 barrels of oil per day at peak.


Powered with electricity from shore, the field has record-low CO2 emissions of well-below one kilo per barrel.


The break-even price for full-field development is less than US$20 per barrel. After reaching a plateau for the first phase, anticipated during the summer of 2020, expected operating costs are below US$2 per barrel.


The operator also expects cash flow from operations of around US$50 per barrel in 2020, based on a real oil price of US$70 per barrel, partly as a result of the phasing of tax payments in the ramp-up phase.


Source: Offshore Energy Today