Equinor’s Giant New Arctic Find Starts Pumping to Recoup $8B in 2 Years

Equinor’s Giant New Arctic Find Starts Pumping to Recoup $8B in 2 Years

Equinor's Johan Castberg oilfield in the Arctic Barents Sea began production on Monday to a great deal of fanfare after several delays, with the company’s CEO saying the project will recoup its $8-billion in less than two years, the company said in a statement.   Located approximately 100 kilometers north of the Snøhvit field, Castberg is now the second operational oilfield in Norway’s Barents Sea, following Vår Energi's Goliat field, which bega…

Norway Begins Oil Production at Johan Castberg Field in Arctic

(Bloomberg) — Norway’s 86 billion kroner ($8.1 billion) Johan Castberg oil development in the Barents Sea has started pumping, the second major field to begin operations in the country’s Arctic waters.

Equinor starts up Arctic oilfield Johan Castberg – Oil & Gas 360

(Oil Price) – Following several months of delays due to inclement winter weather in the waters in Norway’s Arctic, Equinor started up the Johan Castberg oilfield on Monday, which will add 220,000 barrels of oil per day at peak production rates. Equinor has already delayed the start-up twice, in December and in early March, due to bad weather. As Norway’s newest oilfield, Johan Castberg in the Barents Sea, is now on stream, it will produce crude f

Production from the Johan Castberg oil field in the Barents Sea began on Monday. – An important energy product for Europe, says Equinor CEO.

Equinor: Johan Castberg oil field in the Barents Sea comes on stream - Drilling Contractor

Equinor announced that the Johan Castberg oil field in the Barents Sea came on stream on 31 March. At peak, Johan Castberg can produce 220,000 barrels of oil per day, and recoverable volumes are estimated at between 450 and 650 million barrels. 12 of the 30 total wells are ready for production, and this is … The post Equinor: Johan Castberg oil field in the Barents Sea comes on stream appeared first on Drilling Contractor.