Equinor and its partners have greenlit a NOK 13 billion investment into the third phase of the Johan Sverdrup field—already one of the world’s most carbon-efficient oil and gas developments. This expansion underscores the company’s commitment to maximizing resource recovery, improving production efficiency, and supporting Europe’s energy security with low-emission energy.

Increased value creation and innovation

Phase 3 will add two new subsea templates, tied back to existing infrastructure via new pipelines. This will enable the recovery of an additional 40–50 million barrels of oil equivalent (boe), with first production targeted for Q4 2027. By building on the established framework of Phases 1 and 2, the new development ensures rapid deployment and strong return on investment.

A key differentiator for Phase 3 is the application of artificial intelligence in optimizing field layouts and well path planning. This has already delivered a NOK 130 million cost reduction and significantly improved project efficiency—highlighting Equinor’s forward-thinking approach to digitalisation in upstream operations.

Contract awards

TechnipFMC has secured the engineering, procurement, construction, and installation (EPCI) contract for the subsea scope, valued at approximately NOK 5.3 billion. Additional contracts related to platform modifications and well drilling are expected in 2025, ensuring continued activity across the Norwegian supply chain.

Increased recovery and production

The Johan Sverdrup field is a cornerstone of production on the Norwegian Continental Shelf, setting a new national record in 2024 with 260 million barrels of oil produced. With a current recovery rate of 66%—well above the NCS average of 47%—Equinor is now targeting 75% recovery with the aid of Phase 3 infrastructure.

As Equinor eyes sustained production through 2035, Johan Sverdrup Phase 3 represents a strategic leap in both technological innovation and long-term energy delivery. The development notification has been submitted under the existing PDO and remains subject to final government approval.

For ongoing updates on contract awards and supplier opportunities across the energy and chemicals sectors, check out www.epcintel.com .