Statoil starts production from Vigdis North-East oil field

3/11/2013

Statoil starts production from Vigdis North-East oil field

BY KATARINA GUSTAFSSON
  
OSLO -- Norwegian oil and gas giant Statoil announced the Vigdis North-East oil field in the southern North Sea is on stream.

The field, discovered in 2009, is part of Statoil's fast-track portfolio. The Vigdis North-East volumes are calculated at around 37 MMboe. Total investment costs for the development are around NOK4.3 billion ($750.6 million).

Statoil is the operator of the field with a 41.5% stake. Petoro owns 30.0%, ExxonMobil owns 16.1%, Idemitsu owns 9.6%, and RWE Dea owns 2.8% of the field.

Dow Jones Newswires

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