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Statoil starts production on Visund South field in North Sea

By KATARINA GUSTAFSSON

STAVANGER -- Statoil has started production on the Visund South oil and gas field in the North Sea.Visund South is the first of Statoil' s fast track portfolio projects. Visund South consists of the Pan and Pandora discoveries, which are located 10 km from both the Gullfaks C and Visund A platforms and have been developed by means of a subsea installation.

The development represents a total investment of about $985.5 million.Transport and export will take place via the Gullfaks C export system. The Visund South volumes have been estimated around 67 MMboe and the discovery is being characterized as a medium sized one, in which oil accounts for 25% and gas 75%. Statoil owns 53.2% of Visund South, Total owns 7.7%, Petoro 30.0% and ConocoPhillips 9.1% .

Dow Jones Newswires

11/22/2012

 

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