Norway's Johan Castberg oil field in the Barents Sea begins operation, opening a new oil province with Equinor's floating production, storage, and offloading vessel.
Norway's Johan Castberg oil field in the Barents Sea is set to begin operation later this year, opening a new oil province. The Equinor-operated development will deploy a floating production, storage, and offloading vessel with a capacity of 1.1 million barrels of oil. The Norwegian government aims to maintain its position as a key energy supplier to Europe, with the Arctic offering a prospective source of future reserves, as it currently supplies approximately 30% of Europe's natural gas.
May 08, 2024
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