Equinor and partners are investing 13 billion kroner (approx. 8.5 billion DKK) in the third phase of Johan Sverdrup, one of the world's most CO2-efficient oil fields. New subsea facilities are to increase recovery by 40–50 million barrels of oil equivalent. Equinor said in a press release.
- By building on technologies, solutions and infrastructure from phases 1 and 2, we can carry out an efficient development with a fast start-up. The project increases the recovery rate and value creation from Johan Sverdrup while contributing to stable energy supplies to Europe, says Trond Bokn, Senior Vice President of Project Development at Equinor.
Phase 3 includes two new subsea structures in the Kvitsøy and Avaldsnes areas with six well sites each. A total of eight wells are to be drilled – seven oil production wells and one for water injection. These will be connected to existing structures and pipelines leading to the P2 platform for processing and export.
Johan Sverdrup is located in the Utsira Height in the North Sea, 160 kilometers west of Stavanger, in water depths of between 110 and 120 meters and covers an area of 200 square kilometers. The field has a production capacity of 755,000 barrels per day, equivalent to approximately one third of Norway's total oil production today.
Artificial intelligence has analyzed the field layout and well progression, contributing to faster decisions and savings of 130 million DKK (approximately 85 million DKK). The project also includes additional well sites and the possibility of additional connections.
TechnipFMC has been awarded the engineering, procurement, construction and installation contract for the subsea development, valued at approximately 5.3 billion DKK (approximately 3.5 billion DKK). Additional contracts are expected to be awarded later in 2025.
The expected recovery rate from Johan Sverdrup is currently 66 percent. The target for Johan Sverdrup's third phase is to reach 75 percent. The average on the Norwegian shelf is 47 percent.
The project is being implemented by Equinor Energy AS, which owns 42.6267 percent and is the operator, in partnership with Aker BP ASA (31.5733 percent), Petoro AS (17.36 percent) and TotalEnergies EP Norge AS (8.44 percent).
Production on phase 3 is expected to start in the fourth quarter of 2027, subject to regulatory approval of the expansion plans.
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