Expecting faster ramp-up to higher plateau production on Johan Sverdrup

30. March 2020

Aker BP together with operator Equinor and other partners are pleased to announce that the North Sea Johan Sverdrup field expects to reach plateau production for the first phase in May. Due to higher plant capacity, plateau production will increase from around 440,000 barrels of oil per day to around 470,000 barrels per day.

Plateau production was previously expected to be reached during the summer. At the end of March, daily production had already exceeded 430,000 barrels of oil.

The Johan Sverdrup field came on stream on 5 October last year, more than two months ahead of the original schedule and NOK 40 billion below the original estimate for development and operation (PDO August 2015).

The break-even price for the full-field development is below USD 20 per barrel, and expected operating costs are below USD 2 per barrel.

Including the increased phase 1 plateau production, Johan Sverdrup will produce up to 690,000 barrels of oil per day at peak, scheduled in the fourth quarter of 2022.

Expected recoverable reserves in the field are 2.7 billion barrels of oil equivalent.

Each barrel of oil generates less than 0.7 kg of CO2 emissions, compared to the global average of 18 kg of CO2 per barrel. This result is mainly due to electrification of the Johan Sverdrup field.