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BLOOMBERG – Statoil ASA (STL) said the Johan Sverdrup deposit will generate 1.35 trillion kroner ($200 billion) in revenue over 50 years after it starts pumping oil in 2019 as the company released an environmental impact assessment.

The assessment is the first step of the development and operation plan that’s expected to be handled by parliament next year, Stavanger-based Statoil said in a statement. The plan is expected to be prepared and agreed on by the partners at the start of February, Statoil said.

“We’re planning for a stepwise field development with various installations tied back to a joint field center,” said Arne Sigve Nylund, executive vice president for development & production Norway, in the statement. “This will ensure continuity and comprehensive resource utilization and also generate the greatest possible added value for our owners.”

Statoil estimated that the field will need investments of between 170 billion kroner to 220 billion kroner to reach full development. Swedbank AB analyst Teodor Sveen-Nilsen said that compared to his estimate of about 160 billion kroner.

“We will probably need to increase our capex for phase 2 by 20 percent to 25 percent, from 160 billion kroner to 195 billion kroner,” Sveen-Nilsen said in a note. “The change reduces our Sverdrup valuation by 5 percent.”

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The field, discovered in two parts by Lundin Petroleum AB (LUPE) and Statoil in 2010 and 2011, is located in a mature area that has been thoroughly studied, Statoil said. The central environmental aspects are that the field receives its power from land, that water will be purified and re-injected and that cuttings drilled with oil-based liquid will be brought ashore, or purified and discharged offshore, Statoil said.

The field holds 1.8 billion to 2.9 billion barrels of oil equivalent and is one of the five largest discoveries offshore Norway, according to Statoil. Statoil reiterated that the first development phase will need investments of about 100 billion kroner to 120 billion kroner and produce 315,000 to 380,000 barrels a day. Fully developed the field may reach output of 550,000 to 650,000 barrels a day.

Other partners in the development include A.P. Moeller Maersk A/S, Det Norske Oljeselskap ASA (DETNOR) and Petoro AS.