Norwegian major Statoil announced Monday that its Vigdis North-East oil field has started production.
The field, located offshore Norway in the southern North Sea, is the third project in Statoil's fast-track portfolio of projects that employ standardized solutions using existing infrastructure rather than building all required infrastructure from scratch.
Vigdis North-East is just four miles south of the Snorre A platform, so the field development – comprising a subsea installation of four wells – is tied back to the existing Vigdis facility on Snorre A for processing. The total investment cost for the development is approximately $730 million, while the volume of hydrocarbons that Statoil expects to extract from the field has been estimated at around 37 million barrels of oil equivalent.
"The project adds new and valuable volumes for Statoil and its partners, and we have managed to meet the ambitious schedule and cost frames for this type of fast-track developments," Edvin B Ytredal, Statoil's head of production for the Snorre, Tordis and Vigdis fields.
"We have reached another important milestone in our fast-track portfolio through good cooperation in the licence and with the authorities."
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