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Deepsea Atlantic drilling rig returning to Johan Sverdrup

Gasoil News - Published on Thu, 09 Jul 2020

Image Source: Equinor Johan Sverdrup Field
Equinor and its partners have signed a letter of intent with Odfjell Drilling for the Deepsea Atlantic rig to drill 12 wells during phase 2 of the Johan Sverdrup field development, following its work on phase 1. The value of the fixed part of the agreement is estimated at around USD 150 million at the current USD exchange rate. The costs of integrated services, maintenance and options for drilling five extra wells are not included in the estimated value. The total contract value will depend on the efficiency of the well deliveries.

The Johan Sverdrup licence partners are Equinor as operator, Lundin, Petoro, Aker BP and Total.

The drilling period is scheduled to start at the beginning of 2022.

Johan Sverdrup phase 2 includes the construction of a subsea production system, reconstruction of the existing riser platform and a new processing platform, which will also accommodate a converter unit receiving power from shore. This unit will distribute power to other fields on the Utsira High: Edvard Grieg, Ivar Aasen, Gina Krog and Sleipner. The four existing platforms on the Johan Sverdrup field are already receiving power from shore and CO2 emissions per barrel are 0.7 kg.

The phase 2 development will increase the field production capacity from 470,000 to 690,000 barrels per day on plateau. The break-even price will be below USD 20 per barrel, making Johan Sverdrup a highly profitable field with a very low CO2 footprint.

Source :

Posted By : Yogender Pancholi on Thu, 09 Jul 2020
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