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Statoil and partners to spend $1.3 bln to develop Oseberg Delta field
May 30, 2013 / 8:18 AM / 4 years ago

Statoil and partners to spend $1.3 bln to develop Oseberg Delta field

OSLO, May 30 (Reuters) - Norway’s Statoil and its license partners will spend 7.4 billion crowns ($1.26 billion) to develop Oseberg Delta, a small field adjoining the Oseberg oil and gas field in the North Sea, the oil ministry said on Thursday.

Oseberg Delta is estimated to contain 77 million barrels of oil equivalent and to start production in the fourth quarter of 2014, the ministry said based on Statoil’s development plan.

The partners in the Oseberg field are Statoil, with a stake of 49.30 percent, Total with 14.70 percent, ConocoPhillips with 33.60 percent and Norwegian state-owned firm Petoro with 33.60 percent.

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