Solution ensures big long-term government revenues

[ 13.02.2014 ]
“The decision taken by the licensees on a development solution for the first phase of Johan Sverdrup will secure profitable production and big revenues for our owner for a long time to come,” says Jan Terje Mathisen, Petoro’s project director for this North Sea field.
  
He is pleased that the solution includes improved oil recovery (IOR) from day one, as well as opportunities for future utilisation of more advanced measures for enhanced oil recovery (EOR). This is in line with Petoro’s strategy.
Jan Terje MathiesenMathisen emphasises that the decision provides a big climate benefit in that the first development phase will be based on power from shore. That will reduce overall carbon emissions from the Utsira High area by 60-70 per cent.

“We’ve now taken a first decisive step towards a final investment decision and consideration of the plan for development and operation by the Storting [parliament] in the spring of 2015,” Mathisen says.

“In the time to come, the partnership must ensure good execution of this giant project while simultaneously providing room for technical and cost-related improvements to the concept we’ve now chosen. We must also work to secure the best possible solutions for further development of the field.”

Jan Terje Mathisen
Vice president Johan Sverdrup
 

Other news

Solid cash flow – impacted by weaker gas market
[06.03.2020] - Press Release Petoro 2019 results
Solid cash flow – impacted by weaker gas market
Read more
14 licences to Petoro
[14.01.2020]
14 licences to Petoro
Read more
40 per cent cut in greenhouse gas emissions by 2030 – net zero in 2050
[07.01.2020]
40 per cent cut in greenhouse gas emissions by 2030 – net zero in 2050
Read more
New projects provide a basis for increased revenue
[30.10.2019] - Press release - Third quarter 2019
New projects provide a basis for increased revenue
Read more
Norwegian shelf giant on stream
[08.10.19]
Norwegian shelf giant on stream
Read more
Dvalin start-up
[13.08.2019]
Dvalin start-up
Read more
59 billion to the Norwegian Oil Fund from Petoro first half 2019
[08.08.2019] - Press release - Second quarter 2019
59 billion to the Norwegian Oil Fund from Petoro first half 2019
Read more
DG1 decision on Wisting
[26.06.2019]
DG1 decision on Wisting
Read more
Government approves Gullfaks development
[14.06.2019]
Government approves Gullfaks development
Read more
Plan for phase 2 of Johan Sverdrup construction approved
[15.05.2019]
Plan for phase 2 of Johan Sverdrup construction approved
Read more