Statoil Submits Rare $940 Million Plan Amid Oil-Price Rout

  • Oseberg Vestflanken 2 project to provide 110 million barrels
  • Will have Norway's first unmanned, facility-free platform

Statoil ASA is forging ahead with an 8.2 billion-krone ($940 million) project designed to squeeze more oil and gas out of the Oseberg area of the North Sea, a rare investment decision amid a collapse of crude prices.

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