Statoil May Scale Back Castberg Field Plan to Cut Costs
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Statoil ASA, the Norwegian oil producer exploring in the Barents Sea, is studying a scaled-back development plan for its Johan Castberg field to reduce costs.
The company is “looking at cheaper solutions,” Margareth Oevrum, executive vice president for technology, projects and drilling, said today in Stavanger. If Statoil makes no further finds in the area, “we may choose a much simpler solution.”