×

Statoil halts work on Snoehvit capacity expansion in Arctic

OSLO, Oct 2 (Reuters) - Norwegian oil and gas firm Statoil

has decided to stop work on capacity expansion at the plant processing gas from its Snoehvit gas field in the Arctic Barents sea until new discoveries are made, it said on Tuesday.

"The license has concluded that the current gas discoveries do not provide a sufficient basis for further capacity expansion," Statoil said in a statement.

(Reporting by Balazs Koranyi)

((Balazs.Koranyi@thomsonreuters.com)(+47 22 93 69 62)(Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))

Keywords: STATOIL SNOEHVIT/