Statoil lowers cost estimate for Johan Sverdrup

Offshore staff

TRONDHEIM, Norway – Statoil has presented a preliminary capex estimate for the first phase of the Johan Sverdrup field development in the central Norwegian North Sea.

According to partner Det norske oljeselskap, the price is NOK 9 billion ($1.05 billion) lower than the NOK 123 billion ($14.46 billion) figure approved by the Ministry of Petroleum and Energy in August to the partnership.

This reflects the response by suppliers in terms of contracts and purchase orders.

However, the contingency level (in NOK) has been maintained in the updated estimate to reflect risks in scope, schedule, and project execution.

09/25/2015

 

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