Major overruns on the Norwegian continental shelf continues.
The article is added to your reading list.
Eni’s Goliat development project in the Barents Sea is the worst offender in the review of projects on the Norwegian continental shelf. Since the plan for development and operation (PDO) was approved, the project has been 15.4 billion more expensive. Just last year, the investment estimate increased by 7.4 billion.
In total, it is estimated now that Goliath is going to cost 47 billion. The project is pursued by delays and problems. At the shipyard in South Korea, it is poured in with people. Now the plan is that the large floater to come to Norway next summer.
– The main reasons for the cost increase is higher market prices, longer delivery time for equipment packages, higher raw material costs and currency effects. In addition, the project has become more expensive due to technological challenges, more comprehensive planning and greater workload than expected, according to the State budget.
In total, the projects undder construction on the Norwegian continental shelf have been 299 billion more expensive. The increase since last year’s 13.7 billion. Altogether there are now projects under development on the Norwegian continental shelf to a value of around 334 billion. Overall, these projects would have cost 305 billion.
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– It is complete madness
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