Name of the Project
Johan Castberg oilfield development.

Location
The project is situated about 100 km north of the Snøhvit field, in the Barents Sea, off the coast of Norway.

Project Owner/s
The project is a partnership between Equinor Energi as the operator (46.3%), Vår Energi (30%) and Petoro (23.7%).

Project Description
Johan Castberg comprises the Skrugard, Havis and Drivis oil discoveries. The project can produce 220 000 bbl/d of oil, with recoverable volumes estimated at between 450-million and 650-million barrels of oil.

The field development concept includes a floating production storage and offloading (FPSO) vessel and extensive subsea development, with 30 wells, ten subsea templates and two satellite structures.

The project is expected produce for 30 years.

The aim is to increase the reserves by between 250-million and 550-million barrels. Six new wells to extend plateau production are being planned.

Potential Job Creation
Jobs generated nationwide during the development are estimated at slightly less than 47 000 person-years.

Capital Expenditure
Capital expenditures for Johan Castberg are estimated at about NKr49-billion.

Planned Start/End Date
Johan Castberg came on stream on March 31, 2025.

Latest Developments
Johan Castberg is producing at peak capacity of 220 000 bbl/d of oil. This increases energy deliveries from the Barents sea by 150%.

The field reached plateau production on June 17. Seventeen of a total of 30 wells have been completed. The wells that have come on stream are producing as expected.

The new FPSO came on stream on March 31, opening a new area for production in the Barents sea. The first cargo was loaded by the tanker Bodil Knutsen on May 25, shipping about 700 000 bbl to Spain. 

Key Contracts, Suppliers and Consultants
Aker Solutions (subsea system and engineering and procurement management contracts), SBM Offshore (turret mooring system on FPSO) and Kværner (topsides).

Contact Details for Project Information
Statoil investor relations tel +47 5199 0000 or email irpost@statoil.com.