Statoil To Deploy New Platform In The North Sea

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Hira Shahnawaz Akhtar
Published on
Updated on

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 shelf,” stated Statoil ASA(ADR) (NYSE:STO) Executive VP Øystein Michelsen….

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.