​Statoil Pushes Back Start Date for $7bn North Sea Mariner Project
Wednesday 28 October 2015
Statoil, the Norwegian oil major, has put back the start date for the biggest project in the UK North Sea for more than a decade, saying that its $7bn Mariner field will not come online until the second half of 2018.
In a statement accompanying its third-quarter results, Statoil said that Mariner was one of two projects where it had deferred planned start-up dates.
The other was Aasta Hansteen, just inside the Arctic Circle in Norwegian waters.
The decision is a blow to hopes that recent UK tax cuts could lead to a swift revival in North Sea spending and production.
Source: Financial Times (Paywall)