Aker BP Reduces Johan Sverdrup Phase 1 Investment Costs

Aker BP, along with its partners, has reduced the investment costs for Phase 1 of Johan Sverdrup development by NOK 5 billion to NOK 92 billion. 

The Johan Sverdrup development passed the halfway mark over the summer, and is now nearly 60% complete, the company informed.

Since the plan for development and operation (PDO) of the Johan Sverdrup field was approved by Norwegian authorities, planned investments for Johan Sverdrup Phase 1 have been reduced by a total of NOK 31 billion.

This investment update for Phase 1 coincides with the assembly operation of the Johan Sverdrup drilling platform which is taking place in Klosterfjorden, near Haugesund in Norway. The drilling platform is one of four platforms which makes up the planned field centre for Johan Sverdrup.

Phase 1 is expected to start up in late 2019 with production capacity estimated at 440,000 barrels of oil per day.

Phase 2 is expected to start up in 2022, with full field production estimated at 660,000 barrels of oil per day. Peak production on Johan Sverdrup will be equivalent to 25% of all Norwegian petroleum production, the company noted.

Partners in Johan Sverdrup are Statoil 40,0267% (operator), Lundin Norway 22,6%, Petoro 17,36%, Aker BP 11,5733% and  Maersk Oil 8,44%.

 

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

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  3. ​Understanding HPHT well intervention (systems)
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For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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