The Norwegian state-owned oil company will now take full ownership and control of the producing Leismer Demonstration Project, as well as Corner that has yet to be developed, under the agreement as it rationalises its portfolio amid rising costs.

It also revealed that a final investment decision on Corner, due to be made in the first half of this year, will now be postponed until the third quarter to coincide with expected closure of the deal, which is subject to customary regulatory approvals.

Statoil