December 21, 2017 / 6:26 AM / 8 months ago

BRIEF-Statoil's Snorre field extension cost slightly exceeds NOK 19 bln

Dec 21 (Reuters) - Statoil Asa:

* STATOIL: INVESTING IN 25 MORE YEARS ON THE SNORRE FIELD - INVESTING IN 25 MORE YEARS ON THE SNORRE FIELD - STATOIL.COM

* ‍INVESTMENT WILL INCREASE RECOVERY FROM SNORRE FIELD BY CLOSE TO 200 MILLION BARRELS​

* ‍INVESTMENT COSTS SLIGHTLY EXCEED NOK 19 BILLION​

* ‍PDO INVOLVES A COMPREHENSIVE SUBSEA DEVELOPMENT, UPGRADING OF SNORRE A INSTALLATION, INCREASED GAS INJECTION AND GAS IMPORT FOR INJECTION​

* ‍ALSO SIGNING CONTRACTS FOR SUBSEA PRODUCTION SYSTEM WITH TECHNIPFMC, FABRICATION AND INSTALLATION OF PIPELINE BUNDLE SYSTEM WITH SUBSEA 7, MODIFICATION WORK ON SNORRE A WITH AIBEL AND A RIG WITH TRANSOCEAN​

* ‍ALL CONTRACTS ARE SUBJECT TO FINAL APPROVAL OF PDO BY NORWEGIAN AUTHORITIES​ Source text: bit.ly/2BSj2Dp Further company coverage: (Reporting By Terje Solsvik)

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