Johan Sverdrup is the third largest oil field on the Norwegian shelf, with expected resources of 2.7 billion barrels of oil equivalents. This giant oil field makes a significant contribution to Aker BP’s production.
The Johan Sverdrup field started production on 5 October 2019, more than two months ahead of schedule and more than NOK 40 billion below budget. In the first year, the field already produced oil around NOK 50 billion – i.e, some 130 million barrels of oil (based on an average price of USD 40/boe).
Phase 2 of the Johan Sverdrup field development is progressing. When the new processing platform is put into operation in 2022, production capacity will reach 690,000 barrels per day.
The ambition for the field is to achieve a recovery factor of more than 70 percent.
One barrel of oil produced at Sverdrup in the first year had emissions of 0.17 kilogrammes of CO2 – almost 100 times lower CO2 emissions than the global average (measured in kg CO2 per barrel produced). This is mainly due to electrification from land.
From 2022, the Sverdrup field will supply electricity from land to other fields at Utsira Height.
Major ripple effects
Johan Sverdrup is a joint industrial project that provides income and employment for 50 years. The project contributes more than 150,000 person-years of employment in the development period between 2015-2025, and in the first phase, more than 70 percent of the contracts were awarded to suppliers in Norway.
In operation, it is estimated that Johan Sverdrup will contribute more than 3,400 person-years each year, as well as creating income for the Norwegian state exeeding NOK 900 billion over the field’s lifetime.
Read more about Johan Sverdrup on operator Equinor’s website.