Words like “historic” and “exceptional” set fixed when Statoil and its partners handed over the plan for the development of mega field Johan Sverdrup to Norwegian authorities Friday.
– It is an exceptionally great pleasure to stand here and the variety of this plan, said CEO Eldar Saetre in Statoil.
Field located on the Utsira High in the North Sea, 155 kilometers west of Stavanger, you get great importance to Norway in the decades ahead.
This is five reasons:
1. One of the largest fields ever
Johan Sverdrup is among the five largest oil fields on the Norwegian continental shelf through tithes and the seventh largest in also gas fields reckoned with.
When Aftenposten been based on the mean of extremes projections on the field size.
The majority of the other major oil fields such as Statfjord and Ekofisk, was put into operation in the 70s or 80s.
– This plan represents the most extensive development on the Norwegian continental shelf since the giants were built out in the 80s, says Sætre.
2. Will produce oil for 50 years
The field extends over 200 square kilometers and will be operational in about 50 years from 2019. Oil and Energy Tord Lien stressed that development comes very conveniently.
– Timing wise this comes project at a genius moment. It is not to hide the fact that the supplier industry faces challenges of the day, so this is very important, says Lien told Aftenposten.
When it reaches full production in 2025 is estimated that it alone will account for around 25 percent of the total Norwegian production on the shelf.
3. Field is profitable even with low oil prices
Statoil estimates that Johan Sverdrup will go around economically with an oil price below $ 40 a barrel.
It makes field robust to fluctuations in oil prices and in competition with other countries.
4. The government can get large revenues
Statoil estimates that the field will provide 670 billion in corporate tax to the Norwegian State. Total income will be 1350 billion.
– This is Norwegian taxpayers to enjoy many decades to come. It will finance the welfare state, says Lien.
5. Can provide 50,000 jobs
According to the EIA, the first phase of development should provide over 50,000 jobs.
How to get Johan Sverdrup North Sea platforms:
Already several contracts have been signed. In January, for example clear that Kvaerner will deliver a chassis to one of the platforms.
The contract value is estimated at just under two billion.
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