Termination of work on Snøhvit oil

The Snøhvit partnership has concluded that the development of oil reserves associated with the Snøhvit gas field, located in the Barents Sea, is not economic. Further appraisal activities will not be pursued.

The plan for development and operation (PDO), approved in 2002, was drawn up solely around recovery of gas resources at Snøhvit because it was concluded that recovery of the field’s oil zone would not be economically viable.