Norway's northernmost oilfield, Johan Castberg, has been opened, marking a significant milestone in the country’s energy sector.

The field, inaugurated by Norway Minister of Energy Terje Aasland, is expected to produce oil for at least three decades.

With an output of 220,000 barrels of oil per day (bopd), the field is operated by Equinor Energy with a 46.3% stake, alongside partners Vår Energi and Petoro.

Terje Aasland said: "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 oilfield, 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.”

Reaching its peak capacity of 220,000bopd less than three months after coming on stream, the Johan Castberg field demonstrates Norway's capacity to deliver energy efficiently.

The field's operation generates significant economic value, with cargoes departing every three to four days, each potentially valued at around Nkr500m ($48.82m), subject to oil prices.

Notably, Norwegian suppliers will play a crucial role, contributing 95% of the deliveries to the field during its operational phase.

The field is managed from Equinor's office in Harstad, with a helicopter base and a supply base located in Hammerfest.

The drilling of a total of 30 wells at the Johan Castberg field is under way, with activities anticipated to continue until 2026, ensuring engagement in the region.

Equinor Norway Exploration & Production executive vice-president Kjetil Hove said: “This is a red-letter day. The Barents Sea is becoming increasingly important for Norway's role as a long-term energy exporter, and Johan Castberg will produce safely and efficiently for at least 30 years.

“We are well under way and have already made new discoveries in the area. Throughout the field's productive life, we will make significant investments that will create jobs and opportunities for the supply industry.”

The Johan Castberg field is situated around 100km north of the Snøhvit field and 150km from Goliat in the Barents Sea, with water depths in the area ranging from 360m to 390m.

It is composed of three discoveries: Skrugard, Havis and Drivis, identified between 2011 and 2014.

The field's development features a floating production storage and offloading vessel connected to an extensive subsea system with 30 wells across ten subsea templates and two satellite structures.

Last month, Equinor Energy and its partners revealed a substantial gas discovery at the 'Skred' prospect in the Barents Sea.