November 6, 2017 / 11:17 AM / a year ago

BRIEF-Norway's Fram field partners approve 1 bln crown project

Nov 6 (Reuters) - Statoil ASA

* Partners in Fram licence have decided to invest in a new project to increase production from Fram field​

* Fram licence partners are investing NOK one billion in a new gas module on Troll C platform

* The module will help to increase oil production and gas exports from Fram field and provide conditions for further development in area

* The module will also help to improve the profitability of the Troll C installation by increasing and accelerating production by means of the enhanced gas capacity

* On behalf of partnership Statoil has awarded EPCI contract for Troll C gas module to Aibel​

* The contract has an estimated value of NOK 600 million

* The project aims at start-up at the end of 2019

* Partners in the Fram licence are Statoil (45 pct), ExxonMobil (25 pct), ENGIE (15 pct) and Idemitsu (15 pct). Source text for Eikon: Further company coverage: (Reporting By Nerijus Adomaitis)

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