Oil from the Johan Sverdrup field in the North Sea has arrived at the Mongstad plant north of Bergen.
“This is a great day for Equinor and the Johan Sverdrup partnership, consisting of Lundin Norway, Petoro, Aker BP and Total. First oil to Mongstad only a few days after production start confirms that the field is producing well. This day also marks the start of a new phase as we prepare to bring Johan Sverdrup oil to the international market,” says Irene Rummelhoff, executive vice president for marketing, midstream & processing (MMP) in Equinor.
Oil is piped from the North Sea Johan Sverdrup field, a distance of 283 kilometres. At the Mongstad complex the oil is stored in caverns and prepared for shipping to markets all over the world.
The first cargo is expected to leave for customers in Asia this week, and contains one million barrels with a market value of around USD 60 million, or more than half a billion NOK at the current oil price. Future cargoes are expected to contain between 600,000 and 2 million barrels.
“Oil from Johan Sverdrup is expected to provide revenue of more than NOK 1400 billion for the next 50 years, of which more than NOK 900 billion will go to the Norwegian state and society. Mongstad will play an important role in realising this value. At the same time, Johan Sverdrup triggers high activity at the plant and new opportunities for the future,” says Rummelhoff.
As Johan Sverdrup receives power from shore via subsea cables, oil will be produced with record-low climate gas emissions of less than one kilogram of CO2 per barrel.
The Mongstad plant is expected to receive up to 440,000 barrels of oil per day from Johan Sverdrup when the first development phase reaches peak production. When the second phase is completed in 2022, Mongstad will receive up to 660,000 barrels of oil per day.
When Johan Sverdrup is operating at full capacity, Mongstad will receive more than 30 percent of the total oil from the Norwegian continental shelf.