Statoil cuts billion from Sverdrup field budget

First stage development of the massive Johan Sverdrup field looks set be around a billion dollars cheaper than first projected, according to a new investment estimate published by the field's operator, Statoil.

by DANIEL LOGAN

Statoil, the operator in the giant Johan Sverdrup field on the Norwegian shelf in the North Sea, has presented a preliminary investment estimate for the first stage developments of the massive field. And the now field now looks set to require fewer investments than first anticipated, reports Norwegian media Det Norske.

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