Statoil Decision on Castberg Field in late 2017
Plans final investment decision regarding the Arctic Johan Castberg oilfield to be made towards end of 2017
* In January Statoil said Castberg decision would come during the second half of 2017
* Investment seen at NOK 49 billion ($5.78 billion) between 2017 and 2024
* Field size estimated at 450-650 mln barrels of oil equivalent
* Says Castberg operation will be supported by a supply and helicopter base in Hammerfest and an operations organisation in Harstad
* Says recruitment of offshore personnel from Finnmark county is also prioritised
* Expected to come on stream in 2022, the Castberg field will be operating for 30 years. A 2022 start-up is in line with previous Statoil statements
* The national employment during the development phase has been estimated at almost 47,000 man-years, of which close to 1,800 will be in northern Norway
* Statoil will invest around NOK 1.15 billion ($135.73 million) per year in operation of the field, amounting to around 1,700 man-years nationally, of which around 500 will be performed in northern Norway. These are both the direct and indirect spin-offs estimated by analyst firm Agenda Kaupang
* Statoil has 50 pct stake, Eni 30 pct, Norwegian state firm Petoro 20 pct
Reporting by Terje Solsvik
February 2024
