Statoil announces Snorre 2040 project schedule adjustment

Source:Statoil

There is no change in the timing of the final investment decision and production start-up, which are planned for Q4 2016 and Q4 2021.

The Snorre partnership has decided to adjust the schedule for the ongoing Snorre 2040 project by postponing the planned date for DG2 from March 2015 to October 2015.

There is no change in the timing of the final investment decision (DG3) and production start-up (DG4), which are planned for Q4 2016 and Q4 2021, respectively.

The early phase of the project is extended to take full advantage of the improvement potential initiated by Statoil’s STEP (Statoil technical efficiency programme) programme and the current focus on cost efficiency within the industry.

Profitability of a new Snorre C platform is challenging and it is important for the owners to secure quality in design and cost estimates prior to entering into FEED studies.

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