Statoil in Shtokman Gas Field Development Discussions

Russian oil and gas company Gazprom has said Statoil is one of the companies with which Gazprom wants to negotiate on participation in developing the Shtokman gas field in the Barents Sea. A number of international companies submitted development proposals for the Shtokman field to Gazprom during the spring.

Statoil presented its proposals, with five possible development solutions, at the end of April. These have been assessed by Gazprom and the company now wishes to cooperate further with Statoil before a final decision is taken on which companies will become part of the Shtokman partnership.

"We are pleased that Gazprom wants to continue collaboration with Statoil in connection with Shtokman," says Peter Mellbye, executive vice president for International Exploration & Production."

Developing Shtokman will be an exciting challenge, both technologically and commercially, and we are keen to take part," Mr Mellbye adds.

"Statoil wants to be involved in the entire value chain, from field development to landfall, LNG facility, shipping and marketing. We will now continue the good cooperation with Gazprom which we have enjoyed so far.

"Our goal is to be one of the companies Gazprom chooses as partners in the development project."

Gazprom announced earlier that it plans to make its choice of partners for the Shtokman development before the end of this year.

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Posted 20/09/05

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