Statoil Increases Byrding Project Interest

Statoil announced Tuesday that it has completed a transaction to acquire a 24 percent interest in the Byrding project, located on the Norwegian Continental Shelf, from Wintershall Norge.

As a result, Statoil’s operated interest in Byrding (PL090B) has now increased from 45 percent to 70 percent.

Byrding is an oil and gas discovery in the northern part of the North Sea, near the Troll/Fram area which represents a focal point of Norway's oil and gas production, according to Statoil.

The field is scheduled to come on stream in the third quarter of 2017.



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