State Demands Billions from StatoilHydro

The government took the payment disagreement with Stat-Oil in a project in 1999 to the court. According to Stavanger’s daily newspaper, Aftenbladet, the state requires a compensation between 4 and 7 billion NOK from the company.

The huge payment demanded by the state traces back to the budget gap for Asgard project in 1999. The project was about the development of the gas pipelines and processing plant at Kårstø. In related to this project, StatoilHydro’s main shareholder requires around 11 billion from the oil company. The state wants to be treated equally with the other companies who have participated in the project, and which have received compensation from StatoilHydro.

Both Sides Keep Silence

The newspaper also reported that neither Statoil Hydro or the government wanted to say anything about the case before the trial which will be investigated by the Stavanger City Court. The trial is scheduled to start on Monday 19 October.

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