Johan Sverdrup exceeds expectations
Johan Sverdrup phase 1 is expected to reach the plateau production rate in early May 2020, more than two months earlier than scheduled. Also, due to higher established processing capacity, the plateau production rate for phase 1 will increase from 440 thousand barrels of oil per day (Mbopd) to 470 Mbopd.
Full activity for Solveig and Rolvsnes
Our construction campaign in the North Sea are proceeding as planned. Structures are now being installed on the seabed that will link Solveig and Rolvsnes to the Edvard Grieg production platform. Solveig is a field that is currently under development. Rolvsnes is a discovery where a long-term production test will be conducted. Both are located close to Edvard Grieg on the Utsira High in the North Sea.
Increased reserves for sixth consecutive year
The 2P reserves replacement ratio for 2019 is 150 percent and this is the sixth consecutive year that Lundin Norway has more than replaced production. As at 31 December 2019, proved plus probable net reserves (2P reserves) are 693 million barrels of oil equivalent (MMboe)