Snorre penalty accepted

December 7, 2005, 18:30 CET

Following an overall assessment, Statoil has resolved to accept the NOK 80 million penalty received in the wake of the Snorre A gas blow-out in the North Sea on 28 November 2004.

This fine was imposed for breaches of the Norwegian Petroleum Act and associated statutory regulations.

“The gas blow-out on the Snorre A platform was a serious incident, and has been demanding for us,” says Statoil chief executive Helge Lund.

“Our focus now is on drawing lessons from the mistakes that were made and avoiding anything like this happening again.”