Johan Sverdrup development approved
In addition the associated plans for installation and operation (PIO) for transportation pipelines and power supply from shore were approved.
“We are on schedule in the Johan Sverdrup development. The project activities will now be stepped up, and more contracts will be awarded in the autumn. Last week the first piece of the Johan Sverdrup development, the pre-drilling template, was installed on the field in the North Sea. In addition the construction of the first jacket has started at Kv?rner Verdal. Contracts worth more than NOK 40 billion have been awarded so far in the development, 75 percent of which have been landed by suppliers with Norwegian invoice addresses,” says ?ivind Reinertsen, senior vice president for Johan Sverdrup.
The ambition is a recovery rate of 70%, allowing for advanced technology for increased oil recovery (IOR) in future phases. The phase one development has a production capacity in the range of 315,000-380,000 barrels per day. First oil is planned for late 2019.
The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil.