At today’s prices, the oil field Johan Sverdrup will earn 9.6 million an hour from 2022

Oil pricePetrouleum. Photo: Pixabay.com

With today’s oil price, the giant oil field Johan Sverdrup will earn 9 million kroner per hour in a few years.

 

“This is a fantastic field,” says Margareth Øvrum, Director of Projects and Technology at Statoil, Aftenposten.

Parliament approved the development project at 124.6 billion in 2015. On Capital Market Day in London last week, Statoil released that the price will be 88 billion, a cost reduction of 30 percent.

They can also expect a big surplus from 2022.

On Friday the oil price was $64.27 a barrel, and the exchange rate to the dollar was 7.9 nok. With such figures, Johan Sverdrup will accumulate $9.6 million in profits – every hour – when the oil field reaches top production of 660,000 barrels of oil a day. Which will begin after phase 2 starts in 2022.

 

© NTB Scanpix / #Norway Today

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