Statoil Polarled Pipeline Completed at NOK3.6 Billion Below Budget
September 29 2015 - 7:21AM
Dow Jones News
By Jens Hansegard
Norway's Statoil ASA (STO) said Tuesday construction of the
just-completed Polarled gas pipeline cost 7.5 billion Norwegian
kroner ($880 million), down from the initial budget of NOK11.1
billion.
"This is due to good planning, good market knowledge and good
execution--and the fact that we could combine several large
projects when we went to the market and negotiated for pipes and
vessels," Statoil head of projects, Torger Rod, said in a
statement.
Statoil said the final pipe in the 482.4 kilometer-long Polarled
Pipeline was laid on Monday at the Aasta Hansteen field at a depth
of 1,260 meters in the Norwegian Sea.
The pipelaying work commenced in March this year.
-Write to Jens Hansegard at jens.hansegard@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 29, 2015 07:06 ET (11:06 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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