The Norwegian partners of Johan Sverdrup field development signed development plans (PDO) on 12 February. Yesterday, plans were approved by the oil – and energy, writes the Norwegian in a stock exchange release Friday.
In addition to the PDO, the plan for installation and operation of pipelines for exports (PAD) approved, as well as a plan for development of the field with power from shore (PAD).
– Johan Sverdrup is an exceptional project that provides optimism for the Norwegian shelf. This approval marks the official start of the development plans and is a historic day in the Norwegian oil and gas industry.
– The Norwegian oil company is very pleased to take part in this major development project, and we fully support the plans that are now signed by the licensees and energy ministry, said CEO Karl Johnny Hersvik in The Norwegian.
– The development is on track
Johan Sverdrup is the largest oil discovery on the Norwegian continental shelf since the 1980s, and is planned to be built in several phases. The first phase consists of four platforms linked by footbridges and three subsea templates for water injection.
The investment costs for the first phase is estimated at 117 billion (2015 million) and will have a production capacity of 315,000 to 380,000 barrels of oil equivalent per day.
– Johan Sverdrup field development is now on schedule after schedule. As an active and responsible partner, Det Norwegian oil company follow the development closely to ensure opportunities and manage the worth for the benefit of license owners and the Norwegian society in general, continues Hersvik.
Pending the outcome of the complaint
Planned start is late 2019. Fully developed field can produce 550 to 650,000 boe per day.
The Norwegian writes that Ministry of Petroleum and Energy (MPE) has undertaken the distribution of shareholdings Johan Sverdrup, but also that the company has appealed this distribution to the King in Council.
– The company is now awaiting the outcome of this complaint, it says.
The license owners consists in Johan Sverdrup consisting of Statoil, Lundin Norway, Petoro, the Norwegian oil company and Maersk Oil.
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