Norway’s Equinor on July 24 said it expected to start up its flagship Barents Sea oil project, Johan Castberg, in 2023, delayed from the initial expected startup date in the fourth quarter of 2022. Equinor attributed the delay to the coronavirus pandemic which holds up work across the construction yards. The project is estimated to produce up to 205,000 bpd of crude oil at peak.
Norway’s expansion into the Barents Sea is faltering. Goliat is currently the only Norwegian field in the sea which produces oil. However, since coming online in 2016, the production in the field has been below the expected level, at an average of 41,000 bpd. Goliat is operated by Eni’s subsidiary Var Energy.
