Statoil ASA(ADR) (NYSE:STO) has recommended the building of a platform to extract the best possible volumes from the Snorre field in the North Sea. Statoil wants to build a new drilling and processing platform in order to extend the life of this field, with the goal of extending the Snorre field oil production up to the year 2040.
Statoil’s improved oil recovery program
"Snorre 2040 is an important improved oil recovery (IOR) project and supports our ambition of achieving an average oil recovery rate of 60% from our fields on the Norwegian...


