STATOIL SLATES NORNE FOR FAST TRACK DEVELOPMENT

Norway's Den norske stats oljeselskap AS plans to develop the 440 million bbl Norne field with a fast track program scheduled to bring first oil in early 1998. Norne will be among the first fields to be developed under a Statoil strategy to compress development timetables to improve the value of discoveries. This new approach could also see early development of a small, isolated oil discovery in the North Sea that "nobody has heard about," said Kyrre Nese, Statoil's senior vice

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