The general meeting in the Norferm biotechnology company decided on 21 November that the company would go into liquidation with effect from 1 March 2006.
Statoil has a 50 per cent share in Norferm and as one of the owners has been assessing the going concern assumption since September. This process has revealed that there is no basis for further operation of the company.
Norferm employees have been given the opportunity to apply for posts in Statoil through the group's in-house job market.