Equinor, Partners Greenlight $1.3B Johan Svedrup Oil Field Extension
July 1, 2025
Equinor and its partners have approved the $1.29 billion (NOK 13 billion) investment in the third phase of Johan Sverdrup field, which entails the installation new subsea infrastructure to increase recovery by 40 - 50 million barrels of oil equivalent (boe).
The development includes two new subsea templates, in the Kvitsøy and Avaldsnes areas with six well slots each, totaling eight wells, including seven oil production wells and one water injection well.
The new subsea templates will be tied into existing templates and pipelines to the P2 platform for processing and export.
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 $13 million (NOK 130 million) for the phase 3 project, Equinor said.
The project also facilitates future value creation at Johan Sverdrup by adding extra well slots, and opportunities for connecting additional subsea templates.
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 $525 million (NOK 5.3 billion). Additional contracts, including platform modifications and the drilling of eight wells, are planned to be awarded later in 2025.
Johan Sverdrup is located in the Utsira High area of the North Sea, 160 kilometers west of Stavanger, in water depths of 110–120 meters, covering an area of 200 square kilometers.
The expected recovery rate from Johan Sverdrup is already at 66%, and the phase 3 project aims to increase it to 75%, while the average for the Norwegian continental shelf (NCS) is 47%.
Equinor is the operator of the field, with 42.6267%, with partners Aker BP holding 31.5733%, Petoro 17.36%, and TotalEnergies EP Norge 8.44%.
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.
“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.
“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,” said Trond Bokn, senior vice president for project development in Equinor.
