Producing 700 million barrels of oil equivalent since 1997, Norwegian energy company Statoil said Friday it was extending the life of a North Sea field to 2030. Statoil said it was confident life for the Norne field development in the North Sea could be extended beyond the initial closure date in 2014. The field’s operational vice president, Kristin Westvik, said 17 years of systematic maintenance left infrastructure there in good shape. “In light of this we are now considering extending Norne’s life to 2030,” she said in a statement. Statoil last year said it was forced to slash costs by more than $1 billion because of the low price for crude oil. Brent, the global benchmark derived from North Sea oils, is selling for around […]