Plans to revive development of Arctic Norway terminal

Statoil, Eni, Lundin and OMV are investigating the possibility of building an onshore facility for ship-to-ship transfers or a terminal with storage in Norway, according to the country’s Oil Minister.

The four firms currently operate two oilfields and have made several oil discoveries in the Barents Sea.

Reuters has reported Terje Soeviknes as saying at a news conference: “I’m optimistic. I think it’s important that operators investigate all possibilities and find a profitable solution both for the companies and the society.”

Statoil, which develops the Arctic Johan Sverdrup oilfield, had discarded previous plans for an onshore terminal to reduce development costs.

13th Apr 2018