STAVANGER, Norway – The various partners in the unitized Johan Sverdrup field in the Norwegian North Sea have signed a ‘pre-unit agreement.’
This involves co-operation on planning – including data exchange – in the run-up to an investment decision and submission of a Plan for Development and Operation (PDO). Statoil has been appointed working operator.
Development of Johan Sverdrup, Norway’s largest discovery for many years, will require a new processing and transportation hub on a level with other giant multi-platform complexes in the North Sea, which could be in service for 50 years.
The field is in 110 m (361 ft) of water, 140 km (87 mi) west of Stavanger, in license PL 501 and 265. Reservoir depth is 1,900 m (6,233 ft). Further appraisal wells will be drilled in 2012.
Ashley Heppenstall, president and CEO of Lundin Petroleum, said: “We are pleased that Statoil have agreed to lead the development and that they share the common goal of developing Johan Sverdrup in a way to maximize resources and bring the development on stream as quickly as possible.
“We will as operator continue to be responsible for the appraisal of the Johan Sverdrup field located in PL501 and support Statoil through secondment of staff.”