LONDON--Statoil
ASA (STO) said Tuesday it is considering its options for the Shtokman
project, following reports in the Russian press that the Norwegian oil
major had pulled out of the giant gas development.
"We
have made it quite clear that we need to see considerable improvement
in fiscal terms and conditions in order to move forward on Shtokman,"
Statoil's executive vice president for global exploration, Tim Dodson,
told Dow Jones Newswires on the sidelines of an industry event in
London.
"There isn't really any new news on that, so it is status quo if those conditions aren't fulfilled," he said.
He declined to comment on whether Statoil was looking to sell its stake in the project.
Russia's
gas giant Gazprom OAO (GAZP.RS) operates Shtokman. Statoil has a 24%
interest, and France's Total SA (TOT) has 25%. U.K.-based major Royal
Dutch Shell PLC (RDSB) has been lined with joining the project, possibly
replacing Statoil.