Statoil to invest NOK 40 billion at Snoehvit to maintain production
OSLO (Reuters) - Norway's Statoil (STL.OL) will invest about 40 billion Norwegian crowns ($6.99 billion) in the upcoming development phases at its Snoehvit natural gas field in the Arctic to maintain production until 2040, a spokesman said on Tuesday.
Statoil said earlier on Tuesday it had dropped its plans to expand its Snoehvit field due to insufficient reserves.
(Reporting by Henrik Stolen)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.