Statoil (STO -1%) and its partners reportedly decide to move ahead with the NOK32B ($5.8B)...


Statoil (STO -1%) and its partners reportedly decide to move ahead with the NOK32B ($5.8B) development of the financially challenging Aasta Hansteen field in the Norwegian Sea. The project would require construction of a new 480-km gas export pipeline from the field to the Nyhamna processing plant. Shares are cut to Sell from Underperform at BMO.

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