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Statoil: submits plans for Snorre expansion

(CercleFinance.com) - Statoil has submitted the plan for development and operation (PDO) of the Snorre expansion project to the authorities, resulting in awarded contracts worth up to 19 billion Norwegian kronor (about 1.
9 billion euros).

Under the project, which is east of the Norwegian coast, Statoil has signed contracts for the subsea production system with TechnipFMC, with the pipeline bundle system being manufactured and installed with Subsea 7.

The Snorre project was originally expected to last until 2011-2014. However, now the Snorre field is expected to produce beyond 2040, with plans to start production in 2021.

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