Statoil has started oil and gas production from the Fram C East well offshore Norway. The well was drilled from the Fram subsea template, and production is being tied back to the Troll C hub in the North Sea. The company said that project capital cost had been reduced to USD 73 million from an originally estimated USD 97 million as a result of “a simple, smart well concept and significantly increased drilling efficiency.” Statoil, the operator, holds a 45% interest in the well, with ExxonMobil (25%), Engie (15%), and Idemitsu (15%) holding the remaining interests.
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