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Statoil Recommended as Johan Sverdrup Operator

Source: www.gulfoilandgas.com 11/28/2014, Location: Europe

The Johan Sverdrup partners have agreed to recommend Statoil as operator for all phases of the field. Their agreement will be included in the Unit Operating Agreement (UOA), which is planned to be submitted to the authorities in February 2015 together with the Plan for Development and Operation (PDO).

Statoil will cooperate closely with its partners in order to secure the best possible utilisation of the resources on Johan Sverdrup. The goal is to achieve a recovery factor of at least 70% from the field.

The field development plan includes a field centre that will carry out the most important functions while also allowing for the subsequent connection of various installations during the developmentís different phases. This integrated solution will ensure efficient field development and operation.

Statoilís plan is to establish a production organisation for the field in Stavanger, while at the same time drawing upon the considerable expertise of its partners and the supplier industry. Johan Sverdrup will represent a powerhouse of value creation and employment in Norway for many decades to come.

Partners:
- Production licence 501/501B: Lundin Norway (operator, 40%), Statoil (40%), Maersk Oil (20%)
- Production licence 265: Statoil (operator, 40%), Petoro (30%), Det norske oljeselskap (20%), Lundin Norway (10%)
- Production licence 502: Statoil (operator, 44,44%), Petoro (33,33%), Det norske oljeselskap (22,22%)

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