The Johan Sverdrup oilfield, the largest in Western Europe, restarted production early Tuesday following a shutdown caused by a power outage on Monday.
By midday Tuesday, production at the offshore field had reached two-thirds of its capacity, a spokesperson from operator Equinor confirmed to Reuters. The oilfield is capable of pumping up to 755,000 barrels per day (bpd) at peak levels.
The shutdown occurred after an onshore power outage disrupted electricity supply to the offshore platforms. Equinor immediately began repairs at the converter station to restore power. The interruption briefly caused oil prices to rise by $2 per barrel, but the market settled early on Tuesday, erasing those gains.
Johan Sverdrup, located in the North Sea, has been a key player in Europe’s oil market since production began in 2019. The field is expected to reach its peak production level of 755,000 bpd either this year or next. This milestone was first achieved in September when the field produced 756,000 bpd. The oilfield contributes about one-third of Norway’s total oil output.
The Johan Sverdrup field holds an estimated 2.7 billion barrels of oil equivalents, with all phases of development now fully operational. Phase One commenced in October 2019, followed by Phase Two in December 2022.
Equinor highlights the field’s low carbon footprint as a major achievement. Electrified to a high degree, Johan Sverdrup emits just 0.67 kilograms of CO2 per barrel of oil produced. This is significantly below the global average of 15 kilograms per barrel. The low emissions are largely attributed to the use of electricity supplied from onshore power grids.
The restart of the Johan Sverdrup field marks a quick recovery for one of Western Europe’s most critical oil assets.
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