Statoil CEO: 2007 Oil, Gas Output Target More Challenging

Statoil ASA (STO) is finding it increasingly challenging to meets its 2007 oil and gas output target of 1.4 million barrels of oil equivalent a day with the delay of two key projects, the company’s chief executive said Monday.

Although CEO Helge Lund said at the company’s third-quarter earnings investors conference the target stands, “it has increasingly become more challenging to deliver,” primarily because of start-up delays on its Snoehvit and Corrib projects.
Schlumberger