StatoilHydro to close Troll development project with immediate effect |
|
|
|
Published
:
Fri, 19 Oct 2007 07:05
|
OSLO (Thomson Financial) - StatoilHydro ASA, operator of the Troll gas field in the Norwegian Sea, said it has decided to discontinue the Troll Future Development project on the Norwegian continental shelf (NCS) following the Norwegian government's decision not to allow increased gas production from the field.'The proposal is a consequence of information from Norway's Ministry of Petroleum and Energy to StatoilHydro and the partners in the Troll licence that the field's gas production permits will not be increased beyond the current level,' the oil giant said.As a result of the decision, StatoilHydro said it will withdraw from the related Gas Network Expansion (GNE) project in its current form.The aim of the GNE project was to create a new gas export pipeline from the NCS to Europe.'(But) StatoilHydro's commitment to realising the full potential of the NCS remains the same,' said chief executive Helge Lund.alastair.reed@thomson.comar/ms1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1398.07 |
-137.50 (
-8.95 %)
|
| SYMBOL (
2007-09-26 ) |
| LAST |
CHANGE
|
|
HANSON
(
12:41pm )
|
|
1099.00 |
+3.00 (
0.27 %)
|
|
AMVESCAP
(
11:35am )
|
|
607.50 |
+2.50 (
0.41 %)
|
| SYMBOL (
2008-12-01 )
|
| LAST |
CHANGE
|
|
INTEL CP
(
4:00pm ) |
|
12.56 |
-1.24 (
-9.16 %)
|
| SYMBOL (
2007-09-04 )
|
| LAST |
CHANGE
|
|
|
Print this Story
StatoilHydro says production starts at US Gulf of Mexico deepwater field 