Statoil Plans Norwegian Center to Boost Production, Efficiency

By Dominic Chopping Features Dow Jones Newswires

Norway's Statoil ASA (STO) said Tuesday that it plans to establish a new center to support its operations on the Norwegian Continental Shelf, helping to boost production potential, efficiency and safety.

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The new onshore integrated operations center will come online next year at a yet-to-be-decided location and could help increase production from its operated fields, creating additional value of around 10 billion Norwegian kroner ($1.24 billion) before tax, it added.

The center will help ensure that production on its fields is optimally efficient at all times, avoiding bottlenecks and identifying preventive maintenance.

"We are now developing tools that will stream data live from the sensors offshore," said Kjetil Hove, Statoil's senior vice president for operations technology on the Norwegian Continental Shelf. "The tools will help conduct detailed analyses of the production and the performance of equipment on the installations. One important goal for the center is to identify and prevent operational disruptions."

A similar center will be operational in the U.S. city of Austin in December.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping, @WSJNordics

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(END) Dow Jones Newswires

November 28, 2017 02:21 ET (07:21 GMT)