Norwegian shelf giant on stream

[08.10.19]
On 2 October, production started from the giant Johan Sverdrup field, which is owned by Equinor, Lundin Norge, Petoro, Aker BP and Total. Production started more than two months ahead of the original plan and 40 billion kroner under the original budget.
“The Johan Sverdrup start-up represents an important milestone for Norway. Production from the field will account for around one-third of all oil production in Norway at the field’s plateu. This production has both record-low emissions and extremely low costs,” says Petoro’s president and CEO Grethe Moen.

The break-even price is under 20 dollars per barrel, and the field’s operating costs will be less than 2 dollars per barrel when the field is producing at plateau. Johan Sverdrup is operated with power from shore and has CO2 emissions under 1 kg per barrel, which is a record-breaking low.

Johan Sverdrup is expected to generate revenues totalling more than 1400 billion kroner, where more than 900 billion kroner will go to the Norwegian State.

“Development of the field has been one long success story. And when production starts several months ahead of schedule, this will further enhance the value of the field, while also highlighting the fantastic job Equinor has done as operator together with the rest of the partnership, to end up where we are today,” says a proud Grethe Moen.

Read more about Johan Sverdrup here

Other news

PDO for Halten East submitted today
[25.05.2022]
PDO for Halten East submitted today
Read more
PDO for Halten East submitted today - 2022-05-25 12:00
Petoro delivers 113 billion and sets high climate targets
[11.05.2022] - Press release - First quarter 2022
Petoro delivers 113 billion and sets high climate targets
Read more
Petoro delivers 113 billion and sets high climate targets - 2022-05-11 10:00
Cutting emissions from the SDFI portfolio by 55%
[11.05.2022]
Cutting emissions from the SDFI portfolio by 55%
Read more
Cutting emissions from the SDFI portfolio by 55% - 2022-05-11 10:00
32 places up!
[25.03.2022]
32 places up!
Read more
32 places up! - 2022-03-25 11:00
186 billion for the state – reliable energy deliveries to Europe
[09.03.2022] - Press Release Petoro 2021 results
186 billion for the state – reliable energy deliveries to Europe
Read more
186 billion for the state – reliable energy deliveries to Europe - 2021-03-09 10:00
Investing 10 billions in the Oseberg field
[26.11.2021]
Investing 10 billions in the Oseberg field
Read more
Investing 10 billions in the Oseberg field - 2021-11-26 12:00
Extreme prices yield record-high cash flow
[28.10.2021) - Press release - Third quarter 2021
Extreme prices yield record-high cash flow
Read more
Extreme prices yield record-high cash flow - 2021-10-28 10:00
PDO for Ormen Lange subsea compression
[20.09.2021]
PDO for Ormen Lange subsea compression
Read more
PDO for Ormen Lange subsea compression - 2021-09-20 16:00
Troll phase 3 in production
[30.08.2021]
Troll phase 3 in production
Read more
Troll phase 3 in production - 2021-08-30 10:00
54 billion kroner for the State – oil and gas will remain important as Norway’s position as an energy nation evolves
[30.07.2021] - Press release - Second quarter 2021
54 billion kroner for the State – oil and gas will remain important as Norway’s position as an energy nation evolves
Read more
54 billion kroner for the State – oil and gas will remain important as Norway’s position as an energy nation evolves - 2021-07-30 10:00