The Johan Castberg oil field in the Barents Sea came on stream. The field will be producing for 30 years and bolsters Norway’s role as a reliable and long-term supplier of energy. “This is a red-letter day.The Johan Castberg field will contribute crucial energy, value creation, ripple effects and jobs for at least 30 years to come. We expect that this major field development with a price tag of NOK 86B will be repaid in less than two years,” says Geir Tungesvik, Equinor’s (EQNR) executive vice president for Projects, Drilling and Procurement.
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