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It has already initiated four projects at Gullfaks that combined will add reserves of roughly 142 million barrels of oil equivalent (mboe) at a cost of 15 billion crowns.
"We want to point out that it may not be enough with the 15 billion we have already announced," Statoil spokesman Ola Anders Skauby said.
He said the additional potential 20-billion-crown investments concerned a number of projects that currently are at different stages in evaluation, and declined to say how much these additional projects could increase reserves at Gullfaks.
Center>Copyright Reuters, 2012