Norway’s largest oilfield Johan Sverdrup is expected to come off its production plateau early next year, operator Equinor said on Thursday.
The field hit record daily output of more than 756,000 barrels of oil per day in September, equivalent to some 6%-7% of Europe’s daily oil consumption, according to Equinor.
“We expect Johan Sverdrup to come off plateau production in early 2025,” CEO Anders Opedal told a press conference.
The field has already pumped one billion barrels since coming on stream in October 2019.
At the time of the startup, the field was estimated to hold 2.7 million barrels of oil equivalent in reserves, including some associated gas.
Equinor operates Sverdrup and has 42.6% stake, while Aker BP has 31.6%, state-owned Petoro 17.4% and TotalEnergies 8.4%.
Source : Reuters
Frontier innovation may start at home, but new technologies tend to spread across borders through…
Do banks fail because of runs or because they become insolvent? Answering this question is…
The US college wage premium nearly doubled between 1980 and 2010, rising fastest in dense…
Europe’s rising external surplus now rivals China’s, reflecting weak investment and growing surpluses, pointing to…
The 2025 Sevilla Commitment renews the push for domestic revenue mobilisation, with the EU needing…
This essay analyses the causes of, and remedies for, external imbalances, and what countries should…