Equinor ASA and its companions have agreed to proceed with the primary venture to be related to the Johan Castberg area.
Johan Castberg began manufacturing in March as solely the third growth on Norway’s aspect of the Barents Sea, in accordance with data on authorities web site Norskpetroleum.no. The opposite two, Snøhvit and Goliat, got here on-line 2007 and 2016 respectively.
“Recoverable oil within the new subsea growth [the Isflak discovery] is estimated at 46 million barrels, and start-up is deliberate as early because the fourth quarter of 2028”, the Norwegian primarily state-owned firm mentioned in a web-based assertion.
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Isflak, the primary of a number of discoveries deliberate to be tied again to Johan Castberg, was found 2021. Its growth is estimated to price over NOK 4 billion, in accordance with the assertion.
“A speedy growth is feasible as a result of we will copy standardized options from Johan Castberg. The reservoir is in the identical license and is much like the discoveries we’ve got developed beforehand, which signifies that we will copy tools and nicely options. Johan Castberg has been developed as a future hub within the space”, mentioned Equinor senior vice chairman for venture growth Trond Bokn.
Equinor mentioned, “The event answer for the Isflak discovery consists of two wells in a brand new subsea template tied again to present subsea services by way of pipelines and umbilicals, and all new infrastructure is positioned inside the present Johan Castberg license”.
“Equinor has due to this fact utilized to the Ministry of Power for affirmation that Equinor has fulfilled the influence evaluation obligation and exemption from the requirement for a plan for growth and operation”, it mentioned. “World combustion emissions have been assessed according to new apply”.
Johan Castberg has raised Norway’s manufacturing capability by as much as 220,000 barrels per day, with estimated recoverable volumes of 450-650 million barrels, in accordance with Equinor.
The authorised growth plan consists of the Skrugard, Havis and Drivis discoveries, confirmed between 2011 and 2013, in accordance with Norskpetroleum.no.
On June 30, 2025, Equinor introduced a brand new discovery in Johan Castberg. It put preliminary estimates for Drivis Tubåen, or nicely 7720/7-DD-1H, at 9-15 million barrels of oil. Equinor mentioned then it will consider a possible tieback to present infrastructure at Johan Castberg.
Drivis Tubåen is the 14th exploration nicely drilled in manufacturing license 532, awarded 2009, in accordance with the Norwegian Offshore Directorate. Equinor operates the license with a 46.3 p.c stake. Eni SpA-backed Var Energi ASA owns 30 p.c. Norway’s state-owned Petoro AS has 23.7 p.c.
“We see alternatives so as to add 250-550 million new recoverable barrels that may be developed and produced over Johan Castberg. The partnership is already planning six new wells for improved oil restoration, and we’ll discover extra within the space”, Grete Birgitte Haaland, Equinor senior vice chairman for exploration and manufacturing North, mentioned within the assertion asserting the ultimate funding resolution for Isflak.
“Equinor’s ambition is to keep up the manufacturing degree on the NCS [Norwegian continental shelf] from 2020 till 2035, though manufacturing from the present fields will decline”, Haaland famous. “A big half will come from new wells and tasks.
“We’re planning about 75 subsea developments within the subsequent few years, and this venture is an effective instance of how this may be completed effectively working carefully with license companions and authorities”.
Equinor mentioned within the assertion, “The Norwegian continental shelf is altering. Lots of the developments sooner or later are smaller discoveries that may rapidly be tied again to present infrastructure and bigger fields”.
“Prices and environmental footprints can thus be lowered, worth creation and jobs will be prolonged and Norway’s position as a dependable and long-term vitality provider will be maintained”, Equinor added.
To contact the creator, e-mail jov.onsat@rigzone.com
