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Statoil to extend lifetime of Statfjord A platform off Norway

  • Statoil (STO) decides to extend the lifetime of its oldest oil platform, Statfjord A, in the North Sea until 2020.
  • To keep the oil and gas flowing the partners in the license, which includes ExxonMobil (XOM) and Centrica (CPYYF, CPYYY), plan to drill 10 new wells in the field in 2014.
  • The field has produced more than 4.7B boe since production started in 1979; YTD 2013 production is 80K boe/day.
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