Statoil submits Visund South development plan

By OGJ editors
HOUSTON, Jan. 21
-- Statoil submitted to Norway's Ministry of Petroleum and Energy a 5.6 billion kroner development and operations plan for Visund South, which consists of the Pan and Pandora oil and gas discoveries about 10 km from both the Gullfaks C and Visund A platforms, off Norway.

The plan calls for developing Visund South with three wells on a four-well slot subsea template tied back to the Gullfaks C platform. Statoil expects to start drilling the wells in summer 2011 and complete the drilling in 2012.

Pan and Pandora, discovered in 2008 and 2009, are in 290 m of water and contain an estimated 67 million boe (1/3 oil and 2/3 gas) in reservoirs at 2,900 m below the seabed. Reservoir pressure is about 340 bar.

Statoil expects oil and gas production to start in third-quarter 2012 and continue for more than 15 years.

Visund South is the first in Statoil's portfolio of fast-track developments and the project went from an opportunity to an investment decision in just 1 year, Statoil said. Contracts let include:

• Pipeline, April 2010 to Sumitomo (Japan Steel Works).

• Subsea installations, June 2010 to FMC Technologies Inc.

• Marine operations and modifications on Gullfaks C, autumn 2010 to Subsea 7 Ltd.

• Topside modifications on Gullfaks C, December 2010 to Aibel AS, with work starting in summer 2011.

Statoil as operator holds 53.2% interest in Visund South. Its partners are Total E&P Norge AS 7.7%, Petoro AS 30%, and ConocoPhllips Skandinavia AS 9.1%.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...