Statoil Affirms 2017 Castberg Field Plan
Statoil says a final development plan for Johan Castberg to be submitted in 2017, according to schedule.
Details as follows:
- Investments estimated to be between NOK 50 billion and NOK 60 billion ($6.08 billion-$7.30 billion)
- Statoil says first phase of Johan Sverdrup development will be completed in the period of 2018-2022
- Statoil says continued low oil prices may affect these plans
- Statoil says plans to use gas turbines, not power cable from land to power Johan Castberg
- Oil workers union Industri Energi said it expected Statoil (STO) to make the final investment decision on Johan Castberg development in the fourth quarter of 2017, with production starting towards the end of 2022
- Statoil spokesman said he couldn't confirm the timing, beyond that the decision would be taken in 2017
- Industri Energi says Johan Castberg development will require to drill more than 30 subsea wells
