Johan Sverdrup can withstand extremely low oil price

The mega-field Johan Sverdrup, which includes Statoil and Maersk Oil, will be profitable even with very low oil prices, says Statoil, as the company puts numbers on the pain threshold for the big investment for the first tiime.

Photo: Øyvind Hagen/Statoil

For the first time, Statoil has released a number that shows how far oil prices can drop without threatening the profitability of the large Johan Sverdrup field, whose partners include Maersk Oil.

Till now, the three investment banks Pareto Securities, Capital Markets and ABG Sundal Collier have been the ones estimating, in early November, when it would begin to be bad business to be a partner in the field. At the time, the projection was placed at USD 30-35 per barrel, and this might not be too far off, taking Statoil's statements from the company's annual report into account.

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