Statoil (STO) will invest ~$7B in the upcoming development phases at its Snoehvit natural gas...

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

Statoil (STO) will invest ~$7B in the upcoming development phases at its Snoehvit natural gas field in the Arctic to maintain production until 2040, contradicting earlier reports that it had dropped plans to expand Snoehvit due to insufficient reserves.