Statoil shelves plans for a billion kroner building in Stavanger

StatoilStatoil.Photo: Norway Today Media

Statoil has given up plans for a new office building, which was set to cost three billion, at Forus in Stavanger.

‘We have decided to shelve plans for a new building at Forus. We have covered the capacity we need with the buildings we have at Forus East and Forus’, said spokesman, Morten Eek, to Stavanger Aftenblad newspaper.

He added that in addition to shelving plans for a new headquarters, the company is also terminating the lease on two of four buildings they presently own at Forus.

The decision to build a new HQ was taken in 2012, in the middle of the oil boom. When the plan was conceived, the new building was expected to be completed by 2018.

The building was scheduled to be 90 meters in height, and construction would have cost between 2.5 and 3 billion.

The fall in oil prices has meant that Statoil has sharply cut costs, both in terms of investments and new job creation. Many had therefore speculated that the new building would be something that never materialized.


Source: NTB scanpix / Norway Today