Equinor's Johan Castberg FPSO project delivering plateau oil production
June 20, 2025
Production through the Johan Castberg FPSO has reached peak capacity of 220,000 bbl/d of oil, three months after starting service, according to Equinor.
The global FPSO market is projected to reach $19.65 billion by 2030.
Production through the Johan Castberg FPSO has reached peak capacity of 220,000 bbl/d of oil, three months after starting service, according to operator Equinor.
The company says the early operation phase to date has gone as planned, with the field delivering plateau production on June 17. So far 17 of the 30 wells planed have been completed, with all those on stream producing as expected.
Oil consignments are currently offloaded to shuttle tankers every four days; the first cargo was loaded by the tanker Bodil Knutsen on May 25, transporting about 700,000 bbl to Spain.
Equinor expects the field to remain onstream for at least 30 years, said Kjetil Hove, executive vice president for Exploration & Production Norway.
"The Johan Castberg volume base was initially estimated at 450-650 MMbbl; our ambition is to increase the reserves by 250-550 MMbbl. We are already planning six new wells to extend plateau production," Hove said. "The Isflak project will be a rapid field development with an investment decision at the end of the year and startup in 2028. In addition, we will drill one or two exploration wells annually near Johan Castberg."
New exploration targets have been matured in the area, with plans for two rigs to drill exploration wells in the areas both around Johan Castberg and the Eni-operated Goliat Field.
