Public prosecutor Harald Gronlien said that Statoil was heavily fined for "multiple vio-lations of the Petroleum Act, combined with major damage potential and the risk of loss of lives, environmental damage and damage to equipment".
The fine is also being viewed as a warning to Statoil and the industry.
Statoil was severely criticised for violating work procedures and regulations.
The gas blowout, which happened right under the Snorre tension-leg platform, is regarded as one of the worst safety incidents on record on the Nor-wegian shelf.
Investigators
