Statoil takes Snorre B platform offline after ground movement

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

Statoil (STO) says it will keep production shut at its Snorre B platform in the North Sea until an investigation determines why the soil under a drilling template shifted.

Production was first shut on Saturday, then halted again Monday when more problems were discovered during a restart attempt.

The Snorre field, which has two platforms, produced 88K bbl/day of oil in 2013 and is Norway's fourth-biggest oilfield; the Snorre A platform continues to operate normally.