Statoil gains approval for gas field farm-in
The Council of Ministers gave final approval on 7 June for Norway's Statoilto become the joint foreign partner in the In Amenas gas field development. The decision follows the Norwegian firm's acquisition last June of a 50 per cent stake in the production-sharing contract for the field held by the UK's BP. Statoil has committed $500 million in forward capital expenditure in the development, with remuneration by way of a share of the project's condensate production. ...
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