Equinor and its partners are investing NOK 13 billion in the third phase of Johan Sverdrup, one of the world’s most carbon-efficient oil fields. New subsea infrastructure will increase recovery by 40–50 million barrels of oil equivalent (boe).
Image: Aker BP
“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 Trond Bokn, senior vice president for project development in Equinor. “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.”
Increased value creation and innovation
The development includes two new subsea templates which will be tied into existing infrastructure via new pipelines. The investment will increase recoverable volumes from the field by 40–50 million boe, with production expected to start in the fourth quarter of 2027.
To ensure optimal resource utilization, the project leveraged artificial intelligence to analyze field layouts and well paths. This technology has enabled faster decision-making and resulted in cost savings of NOK 130 million for the phase 3 project.
The project also facilitates future value creation at Johan Sverdrup by adding extra well slots, and opportunities for connecting additional subsea templates.
Contract awards
The Johan Sverdrup field contributes significantly to value creation and ripple effects in society and has driven important industrial development in Norway.
For the phase 3 project, TechnipFMC has been awarded the contract for engineering, procurement, construction, and installation (EPCI) for the subsea development, with a contract value of approximately NOK 5.3 billion. Additional contracts, including platform modifications and the drilling of eight wells, are planned to be awarded later in 2025.
Increased recovery and production
Safe and efficient operations at Johan Sverdrup are delivering results, with systematic efforts to maximize recovery. Phase 3 of the development will create additional value.
The expected recovery rate from Johan Sverdrup is already world-class at 66 percent. The phase 3 project is an important step towards achieving our ambition of 75 percent. The average for the Norwegian continental shelf (NCS) is 47 percent.
“In 2024, Johan Sverdrup set a production record with 260 million barrels of oil, the highest annual oil production ever from a Norwegian field,” said Marianne Bjelland, vice president for Johan Sverdrup. “Every third barrel of oil from the Norwegian continental shelf now comes from the field. Phase 3 is an important contribution to maintaining high production from Johan Sverdrup in the years to come.”
Equinor aims to maintain a high level of oil and gas production on the NCS towards 2035. Johan Sverdrup phase 3 is one of several projects receiving an investment decision this year that supports this ambition.
The partnership has submitted a notification to the authorities in accordance with the existing plan for development and operation (PDO). The notification is subject to governmental approval.
