EnergyWatch

Statoil invests billion in gas satellite

Aker Solutions and Subsea 7 will secure contracts after the oil company's third development application for a Norwegian field this year.

Photo: Marit Hommedal - Statoil

Statoil has decided to develop the gas field Snefrid Nord. Together with partners Wintershall, OMV Norway, and ConocoPhillips, approximately NOK 1.2 billion (EUR 125 million) will be invested in the gas field, which has approximately 5 billion m3 in recoverable gas.  According to a press release from Statoil, the Norwegian oil company is expecting to produce approximately 4 million m3 daily, and have production 5-6 years after the opening in 2019.

Snefrid Nord is the third instance where Statoil has applied for a development permit this year. Like the two previous permits, Njord Future and Bauge, it also lies in the Norwegian Sea and will function as satellite to the major Aasta Hansteen gas field.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Welcon's record revenue shaves paper-thin profit margin

State-subsidized steel from China is making the Danish wind turbine tower supplier's profit bottom out. If the EU doesn't decide to impose a tariff on Chinese steel this year, Welcon predicts that several suppliers will collapse. "But it won't be us," the CEO says.

Further reading

Related articles

Trial banner

Latest News

See all jobs