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WoodMackenzie: Johan Sverdrup is worth USD 11 bln

The low oil price has cut a significant slice from the value of the Johan Sverdrup field, which is estimated to be worth USD 11 billion. Yet the agreement on Friday between the partners in the field, including Statoil and Maersk Oil, is absolutely crucial.

Photo: Statoil

The Johan Sverdrup oil field, estimated to be the biggest field on the Norwegian Continental Shelf in 40 years, is crucial to all five partners, according to British analyst agency WoodMackenzie, which mainly performs commodity analyses.

As such, the - though preliminary - plan for development and operation of the giant field hit a dry spot, as not only Maersk Oil but also the biggest player in the project, Statoil, needs to get the project up and running and ready to produce oil by 2019.

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