<article><p>Negotiations on the distribution of stakes in the 1.8bn-2.9bn bl of oil equivalent (boe) Johan Sverdrup field project in the Norwegian North Sea are "in a critical phase", and the stakes must be distributed fairly and "based on the real values of the licences to be merged", Norwegian independent Det Norske said today.</p><p>The company's brief, unforshadowed unelaborated statement suggests that Det Norske is not happy with the way Johan Sverdrup's unit operating agreement (UOA) is shaping. But the firm declined to comment beyond the published statement. The UOA and the plan for development and operation for Johan Sverdrup is set to be submitted this month.</p><p>Johan Sverdrup comprises a combined discovery which makes up one field, covered by three licences. Det Norske holds stakes of about 20pc in two of the licences. Norway's state-controlled Statoil operates the project, with stakes of at least 40pc in each licence. Other partners are Swedish independent Lundin Petroleum (with stakes in two licences, including one licence operatorship), Denmark's Maersk Oil and Norway's state-owned oil and gas holding company Petoro.</p><p>The distribution of stakes in the project "should reflect quantity and quality, as is common practice on the Norwegian continental shelf," Det Norske's communications director Rolf Jarle Broske said in the published statement.</p><p>Johan Sverdrup, which consists of 95pc of oil, is expected to come on line at the end 2019, with the first phase's breakeven price below $40/bl. </p><p>kr/ts</p><p><br><br> Send comments to <a href="mailto:feedback@argusmedia.com" target="_parent"> feedback@argusmedia.com </a></p><p><u><a href="http://www.argusmedia.com/Info/General/News" target="_TOP"> Request more information </a></u> about Argus' energy and commodity news, data and analysis services. </p><p><i> Copyright © 2015 Argus Media Ltd - <a href="http://www.argusmedia.com/" target="_TOP"> www.argusmedia.com </a> - All rights reserved. </i></p></article>
