Giant budget violations on the Norwegian shelf

The development of the oil fields Yme, Skarv, and Valhall on the Norwegian shelf account for a vast majority of the budget violations totaling around USD 8.5 billion
Photo: Harald Pettersen/Statoil
Photo: Harald Pettersen/Statoil

Three expansion projects on the Norwegian shelf have cost USD 7.1 billion more than expected, according to a survey performed by Norwegien Oljedirektoratet and covering projects that are or should have been in production, and which constitute investments of more than USD 1.7 billion each.

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