Statoil's biggest budget transgression to date

19 years after discovering gas off the coast of Ireland, production can finally begin - but the protracted affair is the biggest cost overrun in the Norwegian company's history.

MAZ PLECHINGER

When things are going slowly at home, it can be nice to occasionally get out of the house. But Statoil has not had a leisurely stay in Ireland, where the Norwegian oil company has lost approximately EUR 843 million in the country, reports Irish newspaper Independent. Last year alone the company's impairments in Ireland totaled EUR 244 million.

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Statoil lost USD 15 billion in three months
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