By Timothy Abington and Mikael Holter (Bloomberg) --The rise of a huge new Norwegian oil field is poised to give North Sea output one of its biggest boosts in years. The surge won’t last. Johan Sverdrup, one of the five largest offshore oil fields ever discovered in Norway, has been given the green light to begin production, with operator Equinor ASA scheduled to start … [Read more...]
Norway Approves Johan Sverdrup Start-Up
The Norwegian Petroleum Directorate has granted its approval for the start-up of the Johan Sverdrup field in the North Sea. With expected recoverable resources of between 2.1 and 3.1 billion barrels of oil equivalent, the Johan Sverdrup field development is one of the five biggest oil fields on the Norwegian continental shelf and one of the most important industrial projects … [Read more...]
Pioneering Spirit Sets New Offshore Lifting Record at Johan Sverdrup
A new offshore lifting world record has been set with the installation of the final topsides in first phase of the Johan Sverdrup field development project in the North Sea. The final two platform topsides were installed using none other than the heavy lift vessel Pioneering Spirit, which installed the topsides utilizing the vessel’s unique single-lift … [Read more...]
Photos: 28,100-ton Johan Sverdrup Processing Platform Departs South Korea Aboard World’s Largest Heavy Lift Vessel
The 28,100-ton topside for the Johan Sverdrup processing platform has departed the Samsung Heavy Industries in Geoje, South Korea bound aboard the Boskalis Vanguard, the world’s largest heavy-transport vessel. The topside, which is fully assembled and tested, will handle the processing and refining of all oil and gas from the first phase of Johan Sverdrup … [Read more...]
How the Oil Crisis Gave Norway’s Giant Field a $10 Billion Boost
By Mikael Holter (Bloomberg) -- Right before Norway’s biggest oil project in decades got the go-ahead in 2015, crude prices fell off a cliff. That turned out to be perfect timing. The crash forced desperate suppliers like platform builders and offshore drillers to cut their prices, allowing Equinor ASA and the other owners of the giant Johan Sverdrup field to trim … [Read more...]