Statoil 'green light' for Aasta Hansteen

Hitting start button: Statoil on Aasta Hansteen

related stories

By Steve Marshall and news reports

 07 January 2013 16:22 GMT

Statoil and its partners are reported to have decided to move ahead with the Nkr32 billion ($5.8 billion) development of the financially challenging Aasta Hansteen field in the Norwegian Sea.

The decision, originally due by the end of last year, has been a tough one for project participants Statoil, OMV and ConocoPhillips as it would require construction of a new 480-kilometre gas export pipeline from the field to the Nyhamna processing plant near Molde.

A plan for development and operation (PDO) for the field must be handed in to the Petroleum & Energy Ministry early this year in time to gain the official green light in the spring session of parliament.

There has been intense debate over who would pick up the estimated…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index