Exploration & Production

Statoil to invest NOK 5 bln in developing Snøhvit

Norwegian company Statoil will invest NOK 5 billion in the Askeladd field.
By Staff reporter 12 March 2018 0 29954

Norwegian company Statoil will invest NOK 5 billion ($642 million) in the Askeladd field, part of the Snøhvit development in the Barents Sea.

Production from the field will supply the LNG plant at Melkøya, near Hammerfest.

“The Askeladd development will supply 21 billion cubic metres of gas and two million cubic metres of condensate to Hammerfest LNG, and production is scheduled to come onstream towards the end of 2020,” Statoil said in a note on Monday.

Askeladd will help maintain plateau production...