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STAVANGER, Norway, Dec. 29 (UPI) -- An $870 million investment in the infrastructure associated with the Snorre oil and gas field contributes to production goals in the North Sea, Statoil said.
Norwegian energy giant Statoil announced plans to dump millions of dollars into modifying the installations at Snorre. Torstein Hole, a senior vice president of exploration at Statoil, said the investments would secure development at the field "up until the year 2040."
The Snorre field in the North Sea was discovered in 1979. Production by Statoil began at the Snorre A and Snorre B platforms in 1992.
Statoil said its license partner at Snorre, Apply Sorco Co., was awarded another multimillion contract to replace the fire and gas alarm systems.
"We will get a completely revamped, modern system with a much improved coverage compared to the current one," said Hole. "This will make the platform's warning system more robust and will represent a big safety improvement."
The company said the upgrades at Snorre would be completed by 2012.
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