Statoil starts production on Visund South field in North Sea

11/22/2012

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

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