Statoil to submit development plan for Johan Sverdrup
STAVANGER, Norway -- Statoil and its partners are to submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy.
The PDO will be handed over from Statoil鈥檚 CEO Eldar S忙tre to Norwegian Petroleum and Energy Minister Tord Lien on Friday.
The capital expenditures for phase one are estimated at $15.4 billion (NOK 117 billion), and the expected recoverable resources are projected at between 1.4 to 2.4 Bboe.
For the full field development, capital expenditures are estimated at some $22.4 billion to $29 billion (NOK 170 to 220 billion) with recoverable resources of between 1.7 to 3.0 Bboe.
The Johan Sverdrup oil field is planned to be developed in several phases, phase one consists of four bridge-linked platforms, in addition to three subsea water injection templates.
The ambition is a recovery rate of 70%, with advanced technology for increased oil recovery in future phases taken into account. The development in phase one has a production capacity in the range of 315,000-380,000 bopd. First oil is planned for late 2019.
The partnership, consisting of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil, has recommended Statoil as the operator for all phases of the field development and operation.
The majority of the partnership has asked the Norwegian Ministry of Petroleum and Energy to determine the final allocation of resources in Johan Sverdrup, based on the following proposal: Statoil 40.0267%, Lundin Norway 22.12%, Petoro 17.84%, Det norske oljeselskap 11.8933% and Maersk Oil 8.12%.
The majority鈥檚 proposal for the allocation of resources is valid until the Norwegian Ministry of Petroleum and Energy decides the final allocation.
In addition to the PDO, the project will also submit two plans for installation and operation for pipeline transportation and the development of power from shore solution.