Equinor takes FID to develop Johan Sverdrup Phase 3
Equinor Energy AS and partners have made a final investment decision (FID) to proceed with Johan Sverdrup Phase 3 development.
Johan Sverdrup lies in the Utsira High area of the North Sea, 160 km west of Stavanger, in water depths of 110–120 m, covering an area of 200 sq km.
The newly sanctioned project aims to increase recoverable volumes at the oil field offshore Norway by 40-50 MMboe through the installation of new subsea infrastructure, Equinor said in a release July 1. Phase 3 involves the installation of two new subsea templates in the Kvitsøy and Avaldsnes areas with six well slots each, totaling eight wells (seven oil production, one water injection), tied back to existing templates and pipelines to the P2 platform for processing and export.
The project also will include the addition of extra well slots, spare capacity in the control cable, and opportunities for connecting additional subsea templates, the operator said.
Production is expected to begin in fourth-quarter 2027.
Total investment in the project, a step toward reaching 75% recovery at the field, is estimated at NOK 13 billion. The current expected recovery rate from Johan Sverdrup is 66%.
For Phase 3 development, Equinor has let a contract valued at NOK 5.3 billion to TechnipFMC for engineering, procurement, construction, and installation (EPCI) for the subsea development (OGJ Online, Mar. 24, 2025).
Additional contracts, including platform modifications and the drilling of eight wells, are expected to be awarded later this year.
“In 2024, Johan Sverdrup set a production record with 260 million barrels of oil, the highest annual oil production ever from a Norwegian field. 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,” said Marianne Bjelland, vice-president for Johan Sverdrup, Equinor.
The partnership has submitted a notification to the authorities in accordance with the existing plan for development and operation (PDO). The notification is subject to governmental approval.
Equinor is operator of the project with 42.6267% interest. Partners are Aker BP ASA (31.5733%), Petoro AS (17.36%), and TotalEnergies EP Norge AS (8.44%).