Statoil to extend lifetime of Statfjord A platform off Norway

|About: Statoil ASA (STO)|By:, SA News Editor

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.