Statoil says Johan Sverdrup output may reach 650K barrels per day

Statoil's (STO) Johan Sverdrup field is expected to reach an initial output of 315K-380K boe/day and peak at 550K-650K bbl/day, and should remain in production for 50 years, the company says.

STO estimates investments in the first phase of development of at least 100B kroner ($16.4B), including the field center, wells, export solutions for oil and gas and power supply.

STO has said Sverdrup holds as much as 2.9B boe and could supply as much as 25% of Norway’s oil production 10 years from now.

From other sites
Comments (3)
  • Michael Fitzsimmons
    , contributor
    Comments (11166) | Send Message
    This field is an absolute monster. In addition to STO, check out the impact Johan Sverdrup could have on Lundin Petroleum:

    13 Feb 2014, 09:00 AM Reply Like
  • Holthusen
    , contributor
    Comments (701) | Send Message
    Michael, it looks like they are going to manage this "find" very carefully with the announced period of production of 50 years!


    24 Feb 2014, 09:11 AM Reply Like
  • Maobama
    , contributor
    Comments (487) | Send Message
    I agree. This is just a massive find. 50 years of production!
    13 Feb 2014, 09:09 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs