Equinor, partners approve $1.3 billion Johan Sverdrup oilfield expansion
The Johan Sverdrup Phase 3 project is aimed at adding new subsea wells linked to existing infrastructure.
Production is expected to begin in the fourth quarter of 2027, and increase recoverable volumes by between 40 and 50 million barrels of oil equivalent, Aker BP , which holds a stake in the field, said in a statement.
Johan Sverdrup is owned 42.63% by its operator Equinor, while Aker BP holds 31.57%, Norwegian state-owned oil firm Petoro 17.36% and France's TotalEnergies (TTEF.PA), opens new tab the remaining 8.44%.
Equinor, majority-owned by the Norwegian state, said it had submitted the plan to the government for approval.
($1 = 10.0755 Norwegian crowns)
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