Overview
- Equinor said Monday that it is maturing a potential Phase 4 subsea development in the northern Johan Sverdrup area after recent appraisal work confirmed new recoverable volumes.
- Two appraisal wells and a sidetrack in the Tonjer and Geitungen area provided the data that underpins the Phase 4 concept and gave partners more certainty about the resource base.
- Equinor’s preliminary combined estimate for Tonjer and Geitungen is 20 to 30 million barrels of oil equivalent, with further subsurface analysis planned to refine that number.
- Partners plan a subsea tie-back to Johan Sverdrup’s existing infrastructure, are moving the project toward a final investment decision, and have a notional production start targeted for 2029.
- A June 8 redetermination of unit interests slightly increased Aker BP’s stake in the Johan Sverdrup unit, shifting future volumes and costs among partners and changing near-term commercial allocations.