Vigdis Extension approved

July 8, 2002, 10:00 CEST

The partners in the Norsk Hydro-operated Vigdis and Tordis fields in the Tampen area have decided to proceed with the Vigdis Extension project.

The partners expect to be able to recover an additional 50 million barrrels of oil from the Vigdis field.

Vigdis Extension is to be developed with a subsea installation which will include production and injection pipes and umbilicals. Six wells will be drilled - three production wells and three for water-injection.

The subsea systems will be tied back to the existing subsea Vigdis installation. Oil and gas will be processed in the existing processing plant for Vigdis on the Snorre A platform.

"This development is important for the Tampen area. The Vigdis field is no longer at a production peak and Vigdis Extension will make the best possible use of available pipe and processing capacity," reports Geir Ilsaas, head of the partner-operated field in the Tampen area.

Plans call for production to start in late 2003/early 2004. Total investment costs for the development are estimated at NOK 2,676 million.

Statoil will take over operatorship of the Hydro-operated licenses on Tampen in the North Sea on 1 January 2003, and will therefore also assume responsibility for the project.

A plan for development and operation was submitted to the Ministry of Petroleum and Energy on 4 July.

The licensees in production licence 089 are Statoil (28.22 per cent), Petoro (30 per cent), Norsk Hydro (13.28 per cent), ExxonMobil (10.5 per cent), Idemitsu (9.6 per cent), TotalFinaElf (5.6 per cent) and RWE Dea (2.8 per cent).