Advertisement

Oil

Total in $4.2 billion Norway development

AFP
AFP - [email protected]
Total in $4.2 billion Norway development

French energy giant Total said on Thursday it was launching development of the Hild gas and oil field in the Norwegian North Sea with investment of $4.2 billion.

Advertisement

Total holds a 51 percent stake in the Hild field that has estimated reserves of 190 million barrels of oil equivalent, with production set for the end of 2016 and to reach a peak of 100,000 barrels per day.

Processed gas would be shipped to Britain via pipeline and oil shipped off by tankers.

Norway's offshore energy development company owns a 30 percent stake and state-owned oil and gas company Statoil has a 19 percent share.

The project still awaits final clearance by the Norwegian authorities.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also