by Knut Gjertsen, Project Director, Johan Castberg Development, Statoil
To achieve profitability in the project after the fall in the oil price in 2014-15, Statoil and the partners had to change the design concept and develop new solutions in order to be able to carry out the development.Compared with the original solution, costs have been reduced from approximately 100 billion NOK to 50 billion. At sea level, the FPSO will be visible—but it is under water that the true size of the field is seen. Castberg is a large subsea field, and is key to the possible further development and infrastructure in the Barents Sea. The project is a prime example of how the industry has worked together, operators and suppliers, to find new and more profitable solutions without reducing the resource base.
Statoil and partners Eni and Petoro submitted the plan for development and production to Norwegian authorities in December 2017.
About Knut Gjertsen:
Knut Gjertsen is project director for Statoil’s Johan Castberg development in the Barents Sea. Gjertsen is former director of Melkøya LNG facility and has held several management positions of development projects on the Norwegian Continental Shelf. Gjertsen holds an MSc in Structrual Engineering from NTNU and an MSc in Construction Management from the University of Colorado.