STAVANGER, Norway, Feb. 13 (UPI) -- Norwegian energy company Statoil said its partners, Maersk Oil and Lundin Petroleum, made a "historic" decision Thursday on Johan Sverdrup field development.
Developers say Johan Sverdrup will be developed in several phases because of its size. Phase 1 will utilize four offshore platforms fixed in place. Statoil said Thursday its partners decided to power the facilities from shore during Phase 1, which it said was the best solution in terms of emissions.
Arne Sigve Nylund, a vice president for Norwegian developments for Statoil, said Johan Sverdrup will account for 25 percent of oil production from the Norwegian shelf once production starts in late 2019.
"This is historic," he said in a statement. "We have not made a concept selection for a field this size since the 1980s."
Johan Sverdrup should be able to produce for the next 50 years. Peak production is expected to be as high as 650,000 barrels of oil equivalent per day.
Full development plans for Phase 1 should be submitted to the Norwegian government for its approval in early 2015. Morten Jeppesen, Maersk Oil's director for Norway, said in a statement the "primary focus is to unlock the maximum potential from the full field both in the near and longer term."
Lundin in December said the production target of 2019 was a year later than originally planned. Lundin President Ashley Heppenstall said it's worth the wait.
"It is often quoted in the oil industry that big oil fields get bigger and we certainly believe that this will be the case for Johan Sverdrup," he said in a statement Thursday.
