Equinor's Sverdrup Oil Field To Run At Full Capacity In April
Zacks Investment Research | Mar 08, 2020 09:55PM ET
Equinor ASA (NYSE:EQNR) -operated Johan Sverdrup oil field in Norway, which came online ahead of schedule in October 2019, is expected to see growth in oil production during April to around 433,000 barrels per day (bpd) compared with 350,000 bpd recorded at 2019 end.
With this solid surge in production, the giant oil field’s phase-one output is inching closer to achieve its goal of 440,000 bpd for the coming summer. Also, its anticipated maximum output of 660,000 bpd in the second phase, accounting for one third of Norway’s total petroleum production, is unaltered.
Per partner Lundin Petroleum, Equinor commenced drilling the first of its two new production wells in January 2020 to attain the first-phase plateau after witnessing output from its eight pre-drilled wells in 2019.
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