Statoil CEO: 2007 Oil, Gas Output Target More Challenging Date: Monday, October 31 @ 16:13:53 PST Topic: Production; Extraction; Exploration
Statoil ASA (STO) is finding it increasingly challenging to meets its 2007 oil and gas output target of 1.4 million barrels of oil equivalent a day with the delay of two key projects, the company's chief executive said Monday.
Although CEO Helge Lund said at the company's third-quarter earnings investors conference the target stands, "it has increasingly become more challenging to deliver," primarily because of start-up delays on its Snoehvit and Corrib projects.
