According to the agreement the owners of production licences 265 and 501 will cooperate in the planning of the Johan Sverdrup field towards an investment decision and submission of the Plan for Development and Operation (PDO). Statoil is appointed the working operator.
The work will form the basis for developing and establishing the best field solution for Johan Sverdrup. An agreement for the development and operational phase will be signed between the licensees ahead of the submission of the PDO to the Ministry of Petroleum and Energy.
The development of the Johan Sverdrup field is one of the main undertakings on the Norwegian continental shelf (NCS) in the years ahead, and a high-priority project for all partners in the licences. Drawing on the experience and knowledge of the combined partnership will be important.
Johan Sverdrup will be a new processing and transportation hub on a level with the other offshore giants - a new stand-alone development consisting of several installations.
Johan Sverdrup will contribute significantly to future production, added value and activity in the oil and gas industry and the supply industry. The discoveries in the two licences demonstrate the importance of skills, determination and perseverance in the exploration for new recoverable resources on the NCS, also in mature areas.
• Johan Sverdrup consists of two discoveries (made in 2010 and 2011) which represent one field
• Located in the North Sea, 140 kilometres west of Stavanger
• The discovery is located in 110 metres of water, the reservoir being situated at a depth of 1900 metres
• More appraisal wells will be drilled in 2012
• Production horizon of 50 years
• Production licence 501: Lundin petroleum (operator) 40%, Statoil 40%, Maersk oil 20%
• Production licence 265: Statoil (operator) 40%, Petoro 30%, Det norske oljeselskap ASA 20%, Lundin petroleum 10%