Giant oil field Johan Sverdrup will secure the state revenues of more than NOK 900 billion. This amounts to NOK 168,000 per Norwegian.
On Tuesday, Prime Minister Erna Solberg (H) was in charge of the official opening of the new field, which has in fact been in operation since October 5 last year.
Oil and Energy Minister Sylvi Listhaug (Frp) will also participate.
– Johan Sverdrup will provide both high wealth creation and record low emissions. This makes Johan Sverdrup a future-oriented oil field and part of the solution for reduced emissions, says Equinor’s CEO Eldar Sætre.
Equinor is an operator in the field, with Lundin Norway, Petoro, Aker BP and Total as partners.
The development is the largest on the Norwegian continental shelf since the 1980s:
- Expected recoverable resources at Johan Sverdrup are estimated at 2.7 billion barrels of oil equivalent.
- According to Equinor, the field is expected to generate total revenues of more than NOK 1,400 billion. Of this, more than 900 billion will go to the state.
- Employment in the operational phase is estimated at more than 3,400 full-time positions. The operational phase is expected to last for more than 50 years.
The plan was originally for King Harald to attend the opening ceremony on Tuesday as well, but the Palace announced on Monday that the King had cancelled due to the recent strains.
© NTB Scanpix / #Norway Today