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Equinor's Castberg oilfield seen reaching complete output in H1 2025

Equinor's. Arctic Johan Castberg oilfield is expected to reach. full production of some 220,000 barrels each day in the first. half of 2025, a senior company authorities stated on Tuesday.

The oilfield in the Norwegian part of the Barents Sea is set. to start pumping by the end of this year and to produce for. around thirty years, serving as a center to tie in close-by discoveries. in the future.

I think we will reach the plateau during the first half of. next year, Grete Birgitte Haaland, Equinor's head of. expedition and production in northern Norway, informed Reuters on. the sidelines of an energy conference.

Equinor operates the Castberg field and has a 50% stake,. while partners Vaar Energi and Petoro have 30% and 20%. respectively.

Equinor has delayed a financial investment decision on another. arctic oilfield, Wisting, until 2026 due to increasing advancement. expenses.

The main challenge is to have a robust project ... we are. turning every stone there, Haaland stated.

Equinor has actually been criticised by ecologists for. continuing to develop brand-new fields, especially in the Arctic, in. spite of Norway's promise to lower greenhouse gas emissions.

Haaland said the company aimed to lower its emissions to. net no by 2050, and brand-new advancements in the Barents Sea were. only meant to arrest the natural production decrease.

Equinor intends to invest approximately $6.7 billion in oil and gas. offshore Norway till 2035 to sustain production at around 1.2. million barrel of oil equivalent per day, the company said.

(source: Reuters)