Hydro plans new development in Tampen area

July 5, 2002, 01:00 CEST

Norsk Hydro submitted the development plan for the new field Vigdis Extension to the Ministry of Petroleum and Energy on Thursday. The oil field is situated between the Vigdis and Tordis fields in the Tampen area of the North Sea, and is expected to produce 50 million barrels of oil.

Hydro and the other partners intend to utilize available capacity in the exisitng infrastructure in the area in connection with this development.

"Vigdis Extension will, according to plan, start oil production at the end of 2003 / beginning of 2004, and the new oil field will be an important contribution to the long term value creation in the Tampen area. The development will have the flexibility to be able to realize additional volumes in the area," explains Arild Unneberg, senior vice president in Hydro.

Six new wells

The Vigdis Extension will be built with a seabed installation, production and installation tubing and control cables. A total of six wells will be drilled – three production wells and three wells for water injection. The seabed unit will be linked to the existing seabed installation for Vigdis. Oil and gas will be processed in the existing process plant for Vigdis on Snorre TLP.

The overall investments in the development are estimated at NOK 2,676 million.

As of 1 January, Statoil takes over operatorship for the Hydro-operated licenses in the Tampen area, and will also take on overall responsibility for this project on this date.

The participants in the production license are:

Statoil
Petoro
Norsk Hydro
ExxonMobil
Idemitsu
TotalFinaElf
RWEDea

28.22%
30.00%
13.28%
10.50%
9.60%
5.60%
2.80%