By Elizabeth Cowley
Dow Jones Newswires
Friday, October 19, 2007
OSLO Oct. 19, 2007 (Dow Jones Newswire)
Norway’s ministry for oil and energy Friday told the stakeholders of giant oil and gas field Troll that it won’t approve a plan to accelerate Troll gas production because it would result in a direct loss of 65 million barrels of oil.
The decision, which follows months of wrangling between stakeholders and Norway’s authorities, won’t affect the quantity of gas recovered from Troll over the field’s lifetime. It will however reduce the speed at which gas will be produced in the short-term, putting paid to plans to build an associated new gas export pipeline between Norway and Europe.