On 8 August 2025, the Johan Castberg oil field was officially opened by Norway’s Minister of Energy, Terje Aasland. The field, located in the Barents Sea, is Norway’s northernmost oil development and is expected to produce for at least 30 years, according to Equinor's release.
It reached peak production capacity of 220,000 barrels of oil per day less than three months after coming on stream.
“This is a milestone for the petroleum industry in the Barents Sea. With Castberg on stream, the Barents Sea now has both our second largest producing oil field, our second largest gas field and the largest discovery being considered for development. In addition, the Castberg field is a good example of the positive ripple effects that production offshore has on the mainland. With Castberg, there are three producing fields in the Barents Sea. This provides secure jobs in the local business community and a basis for new assignments over a long period of time,“ said Terje Aasland in a speech to the FPSO crew.
The Johan Castberg development is based on a floating production, storage and offloading vessel (FPSO) connected to a subsea field comprising 30 wells on 10 templates and two satellite structures.
Drilling operations are scheduled to continue through 2026.
Norwegian suppliers account for 95% of the field’s operational deliveries.
Cargoes depart from the field every three to four days, and depending on oil prices, each may be worth approximately NOK 500 million.
Operations are supported from a supply and helicopter base in Hammerfest and managed from Equinor’s Harstad office.
The licensees of the field are Equinor Energy AS (operator, 46.3%), Vår Energi ASA (30%) and Petoro AS (23.7%).
The field comprises the Skrugard, Havis and Drivis discoveries, located approximately 100 km north of Snøhvit in water depths of 360 to 390 metres.
Energy AS is a Norwegian state-owned energy company structured as a limited company (AS), primarily focused on oil and gas exploration and production, renewable energy, and technology development.
Vår Energi ASA is a publicly listed Norwegian oil and gas company engaged in the exploration, development, and production of hydrocarbons on the Norwegian continental shelf.
Petoro AS is a Norwegian state-owned company responsible for managing the Norwegian government's direct financial interests (SDFI) in petroleum activities on the continental shelf.
Aker Solutions ASA is a Norwegian engineering company providing integrated solutions, products and services to the global energy industry.