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Hitt og þetta 29. september 2006

Statoil ASA revises downward oil and gas targets for 2007

Nordic Business Report-September 29, 2006-Statoil ASA revises downward oil and gas targets for 2007
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The Norwegian oil company Statoil ASA said on Friday (29 September) that it expects its oil and gas output for 2006 to be 1,140,000 barrels of oil equivalent per day (boed), which is 3% lower than than the earlier prognosis.

Although production is forecast to grow 14% from 2006 to 2007, Statoil also modified down its production target for 2007 by 3% to 1,400,000 boed.

Statoil stressed that the revised forecast and target do not represent changes in oil and gas reserves but entail postponed production.

Statoil also warned that the reduced production means increased production costs.

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Afmælistilboð VB

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