Norway Approves Equinor’s Johan Castberg PDO

Equinor has received the approval of the plan for development and operation of the Johan Castberg field from the Norwegian Parliament on Monday.

The plan will now be submitted to the Ministry of Petroleum and Energy for formal approval, the company informed.

This is a great day for the project and for the licence partners. After all, this is the first development plan to be approved for Equinor! And it is not any project either. It was a long road for Johan Castberg after the first discovery in 2011. Today we have a solid project that will be central in the further development of the northern regions,” said Margareth Øvrum, Equinor’s executive vice president for Technology, Projects and Drilling.

With first oil scheduled for 2022, the field has a production horizon of 30 years. Capital expenditures for the project are NOK 49 billion, and recoverable resources are estimated at 450-650 million barrels of oil equivalent.

The field development consists of a production vessel and a comprehensive subsea system, including a total of 30 wells distributed on 10 templates and 2 satellite structures. This is currently the largest subsea field under development globally, Equinor noted.

The project is on schedule, and gradually we will see the results of the construction work. Many yards and companies across the country will be busy with Johan Castberg deliveries in the years to come,” said Knut Gjertsen, project director for Johan Castberg.

The Johan Castberg partnership consists of Equinor (operator 50%), Eni Norge (30%) and Petoro (20%).

Share this article

Follow Subsea World News

Events>

<< Oct 2019 >>
MTWTFSS
30 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

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:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

read more >

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >