Oil industry praises Johan Sverdrup

The huge Equinor-led project is unmatched, according to the IEA. Its business potential continues to exceed expectations.

Photo: Nerijus Adomaitis/Reuters/Ritzau Scanpix

In its latest report on the oil market, the International Energy Agency (IEA) praises prospects for oil major Equinor's big endeavor, the Johan Sverdrup field. Prior to extraction commencing, the IEA notes what looks to become "incredible" output volumes of about 225,000 barrels per day (bpd). And that is just the beginning, writes Norwegian business media Dagens Næringsliv.

The IEA views the expected output level of Johan Sverdrup as unmatched. Of course, this regards its long-term potential. As early as next summer, output is expected to land around 440,000 bpd, increasing to 660,000 bpd once phase two is finished. Construction of the second phase is slated to begin in late 2022.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Danish carbon storage can run at max from day one

TotalEnergies can't see the need to pilot carbon storage under the Harald field in the Danish North Sea. Rather, the supermajor wants to begin at full scale if the Bifrost project manifests. Although much now depends on two forthcoming events: presentation of political strategy and allocation of EUDP money.

Europe’s carbon price has almost tripled in 2021

European carbon futures rose above EUR 80 a tonne on Friday for the first time, testing the resolve of politicians who are promising to act aggressively on climate change while grappling with inflation that’s tearing into economies across the globe.

Further reading

Related articles

Latest News

See all jobs