Norwegian government realigns Johan Sverdrup field interests

Offshore staff

OSLO, Norway – The Norwegian Ministry of Petroleum and Energy has determined the various ownership interests in the Johan Sverdrup field in the central Norwegian North Sea.

Operator Statoil has a 40.0267% stake; Lundin Norway 22.6%; Petoro 17.36%; Det norske oljeselskap 11.5733%; and Maersk Oil 8.44%.

All five partners must submit a signed unitization agreement reflecting the revised ownership split by Aug. 15. The Ministry will then approve the plan for development and operation.

This is Maersk Oil’s first greenfield development project on the Norwegian continental shelf, and the company also operates one of the UK North Sea’s largest planned developments, the Culzean high-pressure/high-temperature gas/condensate project.

“We are cementing our aim to be a top five North Sea producer by first half of the next decade,” said CEO Jakob Thomasen.

Lundin stated its satisfaction that its unitized interest in Johan Sverdrup has increased slightly to 22.6%.

However, Det norske oljeselskap, which earlier this year questioned the allocation process for the project, said it would scrutinize the decision before deciding how to proceed.

07/02/2015

Johan Sverdrup field development
Johan Sverdrup field development in the central Norwegian North Sea. (Image courtesy Maersk Oil)

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