Johan Sverdrup Partners Submit PDO for Phase 1 to Norwegian Ministry

Lundin Petroleum Norway, Statoil, Maersk Oil, Det norske oljeselskap and Petoro submitted a plan for development and operation (PDO) for Phase 1 of the Johan Sverdrup field to the relevant Norwegian authorities.  

‘The gross oil and gas production capacity for the full field is expected to be in the range of 550,000 – 650,000 barrels of oil equivalent per day. The Johan Sverdrup field will be developed in several phases and with multiple fixed platform installations. Phase 1 of the development consists of four bridge linked platforms as well as three subsea installations’ reads a note released by Lundin Petroleum Norway’s parent company on Friday.

The partners of the field expect the gross capital expenditures for Phase 1 to be around NOK 117 billion (€13.52 billion). The budget comprises investments in oil and gas export pipelines, development wells, and power supply from shore.  

‘Phase 1 is scheduled to start production in late 2019 with a forecast gross production level of between 315,000 and 380,000 barrels of oil per day’ the company reported to the Norwegian Ministry of Petroleum and Energy.  

Phase 2 of the Johan Sverdrup development is expected to commence production in 2022. 

“Johan Sverdrup is one of the largest fields ever developed in the North Sea and has in addition excellent reservoir characteristics” Ashley Heppenstall, President and CEO of Lundin Petroleum, remarked, commenting on the project offshore Norway.