'Subsea 7 is awarded the last major subsea contract for Johan Sverdrup phase 2. Based on good experiences and learning from phase one, the award will ensure continuity and a coherent development of the entire Johan Sverdrup field. This will give us a good foundation for enhancing our collaboration on safety, efficiency and further improvements in the execution phase and afterwards in the operating phase,' says Trond Bokn, project director for the Johan Sverdrup development.

Subsea 7 describes the value of the contract as 'substantial', defined to be in the range of USD 150-300 million.

Johan Sverdrup is regarded as Norway's biggest industrial project in modern history. The Agenda Kaupang consulting company estimates that the Johan Sverdrup project may provide more than 150,000 man-years in Norway in the development period 2015-2025.

Phase 2 of the Johan Sverdrup development was approved by Norwegian authorities in May 2019. Start-up of phase 2 is scheduled for the fourth quarter of 2022.

The Johan Sverdrup licensees are Equinor (operator), Lundin Norway, Petoro, Aker BP and Total.

Attachments

  • Original document
  • Permalink

Disclaimer

Equinor ASA published this content on 13 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2019 10:08:01 UTC