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Norway approves Snefrid Nord gas development near Aasta Hansteen
October 3, 2017 / 1:48 PM / in 16 days

Norway approves Snefrid Nord gas development near Aasta Hansteen

OSLO, Oct 3 (Reuters) - Norway has approved the Statoil-operated Snefrid Nord gas development near the Arctic Aasta Hansteen field in the Norwegian Sea, the oil and energy ministry said on Tuesday.

The field is estimated to hold about 5 billion cubic metres of gas which will be produced by using a subsea installation at a total investment of about 1.2 billion Norwegian crowns ($150.14 million), the ministry added.

Statoil has a 51 percent stake in the license, while Wintershall has 24 percent, OMV 15 percent and ConocoPhillips 10 percent. ($1 = 7.9924 Norwegian crowns) (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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