Offshore staff
STOCKHOLM, Sweden – Equinor now expects the Johan Sverdrup field in the Norwegian North Sea to operate at full production capacity of 755,000 b/d of oil once the Phase 2 facilities come onstream.
According to partner Lundin Energy, execution of Phase 2 is advancing with the fifth platform jacket installed offshore and completion activities ongoing ahead of offshore installation next spring.
Start-up is scheduled for 4Q 2022, with costs unchanged from the original estimate of NOK41 billion ($4.9 billion). However, the full-field breakeven oil price has come down from less than $20/boe to $15/boe.
Lundin also revealed that all future barrels the company sells from the field will be certified as carbon neutrally produced under Intertek Group’s CarbonZero standard.
Sverdrup has been independently certified at 0.45 kg CO2e/boe for full field life emissions, around 40 times lower than the world average, the company added. The company plans to neutralize the field’s net residual emissions via natural carbon capture projects, certified by the Verified Carbon Standard (VCS).
As a result, no net emissions will be released during the future production of Lundin’s net barrels from the projects, amounting at present to around 100,000 b/d and rising to 150,000 b/d when Phase 2 starts up.
The first carbon neutrally produced cargo (2 MMbbl) from Sverdrup has been sold to GS Caltex, Korea and will load in July.
Sverdrup is Norway’s second field to have its emissions independently certified by the CarbonClear standard.
06/16/2021
