By Dominic Chopping

 

Equinor ASA said Thursday that production has now started on phase 2 of the Johan Sverdrup field in the North Sea.

Phase 2 increases Johan Sverdrup's production capacity to 720,000 barrels a day from 535,000 barrels, and Equinor is aiming to increase this to 755,000 barrels a day.

"Johan Sverdrup alone can thus meet 6%-7% of the daily oil demand in Europe," the company said.

Recoverable volumes in the Johan Sverdrup field total 2.7 billion barrels of oil equivalent.

The Johan Sverdrup phase 2 project consists of a new platform, five new subsea systems, 28 new wells, and facilities to send power from shore, among other things.

Equinor is the operator of Johan Sverdrup with a 42.6% stake, while Aker BP ASA has 31.6%, Petoro AS 17.4% and TotalEnergies SE 8.4%.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

December 15, 2022 10:04 ET (15:04 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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