Digital technologies boosted earnings by over two billion NOK in the first year at Johan Sverdrup
One year after the field came on stream digital solutions are key to maintaining high safety standards and value creation in all parts of the operations at Johan Sverdrup. This has increased earnings by more than NOK two billion.
Digital solutions help increase subsurface understanding, ensure more efficient start-up of wells, higher stable production and more efficient maintenance.
The increased earnings are mainly a result of:
Higher stable production by means of automated production optimization.
Improved accuracy in the reservoir by means of broader and more complex data sets, providing us with more information about the reservoir.
More efficient operations and maintenance by means of the solutions for the digital field worker where the operators use tablets in their daily work and the digital twin, which is a virtual copy of the platform.
At Sverdrup a number of other digital initiatives are also being tested out, such as robots over and under water, machine learning and the use of 3D printing technology.
About Johan Sverdrup
In the first year on stream Johan Sverdrup has produced oil worth some NOK 50 billion, i.e. some 130 million barrels of oil (based on an average price of 40 USD/boe.)
One barrel of oil produced at Sverdrup has emitted 0.17 kilogrammes of CO2 in the first year – almost 100 times lower CO2 emissions than the global average (measured in kilogrammes of CO2 per barrel produced). This is mainly due to power from shore.
The field is the third largest oil field on the Norwegian continental shelf, with expected resources of 2.7 billion barrels of oil equivalent. The ambition for the field is to achieve a recovery factor of more than 70 percent.
The break-even for full-field development is below 20 USD per barrel. After reaching plateau for the first phase of the development, anticipated during the summer of 2020, expected operating costs for Johan Sverdrup are below 2 USD per barrel.
Plateau production was reached at the end of April, compared with the previously assumed summer of 2020. The capacity increased from 440,000 to 470,000.
Total production revenues from Johan Sverdrup are estimated at NOK 1430 billion (2018) through the field’s productive life. The revenues for the Norwegian state are expected to total more than NOK 900 billion, divided on taxes and the state’s ownership interest.
The Johan Sverdrup field came on stream on 5 October 2019 – more than two months ahead of schedule and at NOK 40 billion lower cost than in the original estimate in the PDO.
PARTNERS: Equinor: 42.6% (operator), Lundin Norway: 20%, Petoro: 17.36%, Aker BP: 11.5733% and Total: 8.44%.
