Statoil Starts Consultation Period for EIA on Johan Sverdrup Field

Statoil started the consultation period for the environmental impact assessment on the Johan Sverdrup field, adding that the project will create business opportunities for local service companies and for the oil and gas industry as a whole. 

“This will be a gigantic project that will secure energy supply and jobs and result in substantial spin-offs and value for Norwegian society, the industry and the partnership behind the development,” Executive vice president Development & Production Norway Arne Sigve Nylund commented in a note released on Monday. 

The EIA is part of the plan for development and operation should be agreed by the partners of the 200 sq.km. field in February 2015. 

‘According to a provisional estimate, total production revenues over 50 years may amount to as much as NOK 1350 billion. Of this amount, corporation tax alone will give the Norwegian state NOK 670 billion in direct revenue. Total investments for the first development phase are NOK 100-120 billion, while production will be in the range of 315,000-380,000 barrels per day.’

Production should be around 60% higher at full development. The project will be developed in stages over a 50-year period.