PSA Greenlights Statoil's Statfjord B Extension

Statoil Petroleum AS has received consent to use Statfjord B beyond its design lifetime.

Statfjord is an oil field located on both sides of the demarcation line between the Norwegian and UK continental shelves in the Tampen area. Statfjord B is located in the southern part of the field and started producing in 1982.

Based on the assessments made in connection with the application and a desire to utilize Statfjord B for as long as prudent as regards safety, technical and financial aspects, Statoil has applied for a 20-year lifetime extension from August 31, 2011.

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