Discovered in 2010, the field is estimated to contain between 1.8-2.9 Bbbl of oil. Statoil reported that the production from the field could peak to 550-650 Mbbl/d.
Statoil and the partners in the Johan Sverdrup field have also decided on a concept for the first development phase. The partners have agreed on a field centre consisting of four installations and power from shore.
Statoil's EVP Arne Sigve Nylund commented: "This is historic. We have not made a concept selection for a field of this size since the 1980s."