Statoil gets approval for large-scale North Sea development

A total of NOK 4.5 billion is what Statoil plans to invest in expanding two fields on the Norwegian and British shelves in the North Sea.

Two old oil and gas fields, Sleipner and Troll, will now be joined by two new neighbors. This is the plan after Statoil was granted permission by authorities to develop the fields, Utgard and Byrding, which are located right next to Sleipner and Troll, respectively.

The investment in Utgard will be about NOK 3.5 billion (EUR 387 million), while the investment in Byrding will be worth about NOK 1 billion.

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