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%.

 

Share this article

Follow Subsea World News

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Subsea Expo 2018

The largest wholly-focused subsea event in Europe, Subsea Expo is organised by industry body Subsea UK…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

SPE/IADC Middle East Drilling Technology Conference and Exhibition

The theme for this conference is “Building on Today’s Efficiencies for Tomorrow’s Market.” This will be the basis for the technical agenda…

read more >