Partners in the largest, most prolific oil field offshore Norway have made a final investment decision for a third phase of development
Equinor and its partners are investing Nkr13Bn (US$1.3Bn) to develop a third phase of the giant Johan Sverdrup field with a network of subsea infrastructure.
The Norwegian state-backed oil company is working with Aker BP, TotalEnergies and the government’s own investment vehicle Petoro to recover 50M barrels of oil equivalent through this seabed network of wells, flowlines, umbilicals and risers.
Out of this investment pot, TechnipFMC has secured a Nkr5.3Bn contract for engineering, procurement, construction and installation of the subsea facilities. Additional contracts, to modify platforms and drill eight wells, will be awarded later in 2025.
“By building on the technologies, solutions and infrastructure from phases 1 and 2 of Johan Sverdrup, we can carry out an efficient development with a rapid start-up of production,” said Equinor senior vice president for project development Trond Bokn.
“The project increases the recovery rate and value creation from Johan Sverdrup, one of the world’s most carbon-efficient oil and gas fields. At the same time, it contributes to stable energy supplies to Europe.”
In phase 3, two new subsea templates will be tied into existing infrastructure via new pipelines, all to be installed over the next three years for first production in Q4 2027.
The subsea facilities’ design was supported by artificial intelligence, which analyses field layouts and well paths, saving Equinor Nkr130M.
