Statoil & Co, Veidnes Oil Terminal

The company had previously planned to include an expensive pipeline and onshore oil terminal at Veidnes in northern Norway in the field development, a choice favored by Norwegian authorities due to the expected local economic benefits. Statoil decided in 2016 that it would use a floating production and storage vessel on the Johan Castberg field, instead of sending the field’s oil to a terminal at Veidnes. Statoil said it would continue to pursue the oil terminal at Veidnes, but separately and under the direction of four licenses, including the Goliat and Johan Castberg fields, as well as recent Barents Sea discoveries Wisting and Alta/Gotha.