Norsk Hydro Gets Approval for Tampen Development

The Norwegian government approved on Friday the development plan for the Vigdis Extension project.

This is the third subsea development carried out by Hydro in the Tampen area of the North Sea. The project will cost a total of NOK 2.7 billion. It will result in a production of 45,000 barrels of oil per day.

"By developing the Vigdis Extension, we have achieved the goals we sat when we took over operatorship of Snorre, Vigdis and Tordis in 2000. We have placed the Snorre platform among the elite of the most efficiently operated fields in the North Sea. We have improved safety and increased production on the four Hydro operated fields Snorre, Visund, Vigdis and Tordis by roughly 100,000 barrels per day, implementing at the same time a challenging operator shift process," says senior vice president Torgeir Kydland of Hydro Operations and Production Norway.

The operatorship for the Vigdis Extension will be transferred from Hydro to Statoil on January 1, 2003. The transfer is part of the agreement entered into by Hydro and Statoil following the former's acquisition of Saga Petroleum in 1999.

"This new subsea development will fully utilize the area's resources and help to boost utilization of the process module on the Snorre platform," says Torgeir Kydland.

The Vigdis Extension comprises the building and installation of a subsea unit with three production and three injection wells. Pre-drilling will commence in March 2003 with production planned to start up in December in the same year. The proven reserves comprise 56.6 million barrels of oil and one billion cubic meters of gas.

Partners in the Vigdis Extension are: Norsk Hydro (operator) - 13.28%; Petoro - 30.00%; Statoil - 28.22%; Esso - 10.50%; Idemitsu - 9.60% and RWE-DEA - 2.80%.


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