Statoil (STO) plans to invest more than $7B to develop the U.K. North Sea Mariner field using...

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

Statoil (STO) plans to invest more than $7B to develop the U.K. North Sea Mariner field using pioneering technology to extract the heavy oil at what it said to be the largest U.K. offshore development in more than a decade. Mariner is expected to produce for 30 years from 2017, reaching output of ~55K bbl/day in the 2017-2020 period.