Source Pravda.Ru

Delays At Snohvit Prove Costly

Delays as a result of the EFTA Surveillance Authority's investigation into the tax regulations for the Snohvit project have led to extra costs of between NOK 500 million and 1 billion. However, Statoil's objective is to implement the project in accordance with the original budget and time frame.

"Despite these delays and the associated increase in costs, the original estimate of NOK 40 billion remains the same. We will now take a look at compensatory measures to claw back lost time. A complete overview of the costs relating to the delay will not be available until nearer 2005," reports Snohvit project director Egil Gjesteland.

The partners in the Statoil operated Snohvit field in the Barents Sea resolved on March 21st to halt work on the project at Melkoya outside Hammerfest in northern Norway until the ESA had clarified the framework terms. The extra costs are a consequence of the almost four-month stoppage. No contracts were entered into and nor were any purchase orders issued during this period. The provisional cost estimates include extra costs of preparing the plant area at Melkoya, increased engineering costs, and future costs for making up the delays.

©

&to=http://www.statoil.com' target=_blank>STATOIL

Comments
Russian 'spies' Petrov and Boshirov say they work in fitness industry
Is Putin guilty of the Kerch school massacre?
Bill Clinton's Oval Office disgrace destroyed Yugoslavia
Nuclear strike coming tomorrow? Pentagon and North Korea ready for war
Edward Snowden does not feel safe in Russia
Chief of Russian National Guards declines Navalny's TV debate offer
Russia will not let NATO warships into Sea of Azov
Is Putin guilty of the Kerch school massacre?
Putin: Russians will go to heaven in case of nuclear war
Edward Snowden does not feel safe in Russia
Is Putin guilty of the Kerch school massacre?
Russia joins forces with Egypt to establish law and order in the Middle East
Russia joins forces with Egypt to establish law and order in the Middle East
Russia joins forces with Egypt to establish law and order in the Middle East
Russia will not let NATO warships into Sea of Azov
Russia will not let NATO warships into Sea of Azov
Sergei Skripal does not believe Russia poisoned him
Russia delivers technologically advanced S-300 systems to Syria
Chief of Russian National Guards declines Navalny's TV debate offer
Is Putin guilty of the Kerch school massacre?
Is Putin guilty of the Kerch school massacre?