Statoil Submits NOK 17 Billion To Authorities

17 billion kroners has been acceded to authorities from Statoil AS for a development and operation plan for its Kristin gas and condensate field in the Norwegian Sea, according to the Oil and Gas Journal. The project involves 12 subsea wells tied back to a floating production platform. The gas which is produced will be piped and transported to the Kårstø treatment complex to be processed further and then sent by pipeline to sold to continental Europe. The field is expected to distribute about 35 billion cubic metres from 2005 to 2016.