Statoil CEO: 2007 Oil, Gas Output Target More Challenging

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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