The field has expected recoverable reserves of 2.7 billion barrels of oil equivalent and can produce up to 660,000 barrels of oil per day at peak.
The Norwegian company adds it has also invested in digital solutions and ways of working to boost oil recovery, optimise production and improve field operations.
Eldar Sætre, President and CEO of Equinor said: “Johan Sverdrup coming on stream is a momentous occasion for Equinor, our partners and suppliers. At peak, this field will account for around one third of all oil production in Norway and deliver very valuable barrels with record low emissions.
“Johan Sverdrup is expected to generate income from production of more than NOK1400 billion [£124bn] of which more than NOK900 billion [£80bn] to the Norwegian state and society.”
The field is developed in two phases – the second phase of the development was approved by Norwegian authorities in May, with production start-up expected in the fourth quarter of 2022.
Other partners in the project include Lundin Norway, Petoro, Aker BP and Total.