Norway's Equinor ASA has awarded an operations and maintenance work contract to Kaefer Energy AS for the second phase of development of the Johan Sverdrup oil field in the North Sea.
The contract is worth more than 700 million Norwegian kroner and was awarded under an existing framework agreement for operations, according to a May 21 news release. Under the contract, Kaefer will also supply insulation, scaffolding and surface treatment.
On May 15, the Norwegian Ministry of Petroleum and Energy approved a plan for development and operation of the project, which is the biggest field development on the Norwegian continental shelf since the 1980s.
The Johan Sverdrup phase 2 is expected to boost production from 440,000 barrels of oil per day to 660,000 bbl/d. The field has estimated resources of 2.2 billion barrels of oil equivalent to 3.2 billion boe.
As of May 20, US$1 was equivalent to 8.78 Norwegian kroner.