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Equinor, Partners Mature Johan Sverdrup Phase 4 Offshore Asset

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Equinor (EQNR) and its joint-venture partners have initiated the formal maturation of Johan Sverdrup Phase 4 in the North Sea, aiming to sustain long-term output from Western Europe's largest oil-producing asset, the company said on Monday.

The development phase follows successful appraisal drilling at the Tonjer and Geitungen prospects, which effectively de-risked reservoir uncertainties in the northernmost section of the Geitungen terrace, it added.

Preliminary subsurface data pegs the combined resource upside between 20-30 million barrels of oil equivalent with engineers currently refining the data to lock in definitive production metrics, the company noted.

Rather than constructing new surface assets, the Phase 4 volumes from Tonjer East, Tonjer West, and Geitungen will pipe directly back into Johan Sverdrup's massive existing processing hubs.

The expansion project is advancing toward a formal Final Investment Decision, with first oil targeted for 2029, as per the statement.

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