Statoil To Decide On Snorre 2040 Development Concept Next Autumn

Reuters

STAVANGER, Norway, Nov 18 (Reuters) – Norway's Statoil will decide next autumn on how to upgrade the Snorre oil and gas field in the North Sea, a company executive said on Wednesday.

The Snorre 2040 extension project, which has been estimated to cost $4 billion, has previously been postponed as Statoil sought to bring down the price of developments.

"Right now we are working... to have a concept decision next fall," Statoil Senior Vice President of Operations South, Mette Halvorsen Ottoey, told an energy conference.

"We are doing everything we can to look at the costs at that one (platform), and we are also considering if there might be a solution to use subsea," she added.

The Snorre upgrade has been estimated to yield an additional 300 million barrels of oil, Statoil has previously said.

(Reporting by Stine Jacobsen, writing by Terje Solsvik)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Principal Technical Professional
Expertise: Cementing|Production Engineering
Location: Houston, TX
 
Blow Out Prevention (BOP) Specialist
Expertise: Subsea Engineer|Subsea Engineering
Location: Houston, TX
 
United States Broussard: Senior Field Engineer - MWD/LWD
Expertise: Field Development
Location: Broussard, LA
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours