By Tsvetana Paraskova for Oilprice.com | Equinor and its partners have decided to invest $1.3 billion (13 billion Norwegian crowns) in the Phase 3 expansion of the Johan Sverdrup oilfield in the North Sea, Western Europe’s biggest oil-producing field.
The Phase 3 development plan includes two new subsea templates, which will be tied into existing infrastructure via new pipelines. The investment will increase recoverable volumes from the field by 40–50 million barrels of oil equivalent (boe), with production expected to start in late 2027, Equinor said on Tuesday.
Last year, Johan Sverdrup set a production record with 260 million barrels of oil, the highest annual oil production ever from a Norwegian field, the Norwegian major said.
“Every third barrel of oil from the Norwegian continental shelf now comes from the field. Phase 3 is an important contribution to maintaining high production from Johan Sverdrup in the years to come,” says Marianne Bjelland, vice president for Johan Sverdrup.
Johan Sverdrup began pumping crude in 2019. The peak production level is seen at 755,000 barrels daily, which is significantly higher than initial peak output expectations of 660,000 bpd. The peak output was hit for the first time in September 2024 when Johan Sverdrup produced 756,000 bpd. The field’s output alone accounts for a third of Norway’s total oil production.
Johan Sverdrup is estimated to have reserves of 2.7 billion barrels of oil equivalents, and the entire field is now in production. Phase One of Johan Sverdrup was put online in October 2019, and Phase Two came on stream in December 2022.
Thanks to high levels of electrification, Johan Sverdrup has some of the lowest CO2 emissions of any oilfield in the world, according to Equinor.
The Norwegian energy major aims to maintain a high level of oil and gas production on the shelf towards 2035. Johan Sverdrup Phase 3 is one of several projects receiving an investment decision this year that supports this ambition, Equinor said today.
By Tsvetana Paraskova for Oilprice.com
The Johan Sverdrup Oilfield
The Johan Sverdrup oilfield is one of the largest oil discoveries on the Norwegian Continental Shelf and a cornerstone of Norway’s energy production. Located in the Utsira High area of the North Sea, about 140 kilometers west of Stavanger, the field lies in water depths of 110 to 120 meters. Discovered in 2010 and brought online in October 2019, Johan Sverdrup is operated by Equinor (formerly Statoil), with key partners including Aker BP, Petoro, and TotalEnergies. The field is expected to produce for more than 50 years, with recoverable resources estimated at over 2.7 billion barrels of oil equivalent.
Johan Sverdrup is unique not only in size but in its development strategy. It is being developed in multiple phases, with Phase 1 reaching peak production of over 500,000 barrels per day and Phase 2, which came online in December 2022, increasing the field’s capacity to around 720,000 barrels per day. This makes it one of the most prolific oil-producing fields in Europe. The development features a network of platforms interconnected by bridges and subsea systems, designed for optimal efficiency and long-term performance.
A defining feature of Johan Sverdrup is its low carbon footprint. The field is powered almost entirely by onshore electricity from the Norwegian grid, rather than offshore gas turbines. This results in CO₂ emissions of less than 1 kg per barrel produced, which is among the lowest in the global industry. As a result, Johan Sverdrup has become a model for environmentally conscious offshore oil production, blending high output with sustainability practices that align with Norway’s broader climate goals.
