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Statoil released a plan for development and operation (PDO) for the Johan Sverdrup discovery, offshore Norway, agreed between the various licensees in Production License 501 and Production License 265. The PDO is due to be submitted to the Ministry of Petroleum and Energy fourth quarter 2014.
The current timetable for Johan Sverdrup is as follows: fourth quarter 2013, concept selection; fourth quarter 2014, plan of development submission; and fourth quarter 2018, first oil.
Statoil will serve as operator until an investment decision is taken and the PDO submitted.
“Our main job now is to narrow down the volume range and uncertainty, and to study solutions with the aim of achieving a flexible development based on standard technology,” said Øivind Reinertsen, Statoil’s project director for Johan Sverdrup.
Lundin Norway AS, operates Production License 501, with 40% interest; Statoil Petroleum AS, 40%; and Maersk Oil Norway AS, 20% interest.
Statoil ASA, operates Production License 265, with 40% interest; Petoro, 30%; Det Norske Oljeselskap ASA, 20%; and Lundin Norway, 10%.