The partners in the Johan Castberg licence, comprising Statoil, ENI and Petoro, have decided to spend more time on making the final concept selection for the Johan Castberg project, and the work has thus been extended to the summer of 2015, Statoil writes in a press release.

“The companies will continue efforts to mature the technical development solution, updating the resource basis and reducing cost leading up to the summer of 2015. The partners will also further assess the financial basis for an oil terminal at Veidnes,” says Arne Sigve Nylund, Statoil executive vice president for Development and Production Norway, in the press release.