Johan Sverdrup: Norway’s big bet on a rosy future for oil | Financial Times:
In the middle of the North Sea, four metal platforms perched on yellow supports and weighing 100,000 tonnes sit above more than $100bn of black gold.
The Johan Sverdrup field, located in Norwegian waters not far from the border with the UK, does not officially open until January, but has already polarised opinion. For proponents, it marks nothing less than the revival of Norway’s oil industry; for critics, it is an environmental tragedy that shows just how hard climate change will be to stop.
“Johan Sverdrup very much represents the future of Norwegian oil,” said an enthused Arne Sigve Nylund, head of development and production in Norway for Equinor, the state-controlled oil major that is the field operator.
Situated in one of the first licences handed out on the Norwegian continental shelf more than half a century ago, Johan Sverdrup holds about 2.7bn barrels of oil and, only a few weeks after its unofficial start-up, is already the largest producing field in western Europe.
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