Norwegien project cost over-runs [108,778 bytes]
Norway's Ministry of Petroleum and Energy has announced new measures designed to maintain activity in its offshore oil and gas industry.
The news came on Mar. 11, a day after the reading before the Storting, Norway's parliament, of a white paper expected to start an investigation into how state firm Statoil AS ran into trouble on its ?sgard fields development (see story, p. 32).
Earlier, the ministry sacked most of the Statoil board, while Chief Executive Harald Norvik and deputy Chief Executive Terje Vareberg offered to resign, and the ministry began a search for replacements (OGJ, May 3, 1999, Newslett...