Oil and gas company Vår Energi announces that the start-up of the Johan Castberg development project, where Equinor is the operator, is postponed to January/February next year, from the end of 2024 as previously planned.
The schedule change is due to unfavorable weather conditions in the Barents Sea during the final phase of commissioning and start-up, according to a press release.
As a result of the change, Vår Energi’s production guidance for the full year is now expected to be in the lower end of the 280-290 thousand oil equivalent per day range.
Vår Energi holds 30% in Johan Castberg, Equinor 50% and Petoro 20%.
The estimated recoverable volumes in Johan Castberg are between 450 and 650 million barrels of oil.
