Saga starts Vigdis ahead and under budget

Jan 29, 1997 01:00 AM

Norway's Saga Petroleum has started up the Vigdis oilfield in the Norwegian North Sea five months ahead of schedule and 600 mm crowns under budget. The development will add around 100,000 bpd to Norwegian crude production, which averaged around 3.02 mm bpd in 1996. Saga said the Vigdis module began pumping oil to the nearby Snorre platform on Jan. 28. From there it would be piped to the Gullfaks A installation for storage and export. Saga said modification of Snorre had raised its production capacity to almost 360,000 bpd, making it the world's largest floating production platform. Vigdis, discovered in 1986, cost 4.5 bn crowns to bring on stream, 12 % under the original budget of 5.1 bn crowns. Recoverable reserves are estimated at 182 mmb of oil. Production life will be around 15 years. The field comprises three subsea well templates with 12 wells at a water depth of 280 metres. Partners in Vigdis are operator Saga with 7.7 %, Statoil with 4.4 %, the Norwegian state's direct financial interestwith 51 %, Esso with 10.5 %, Idemitsu with 9.6 %, Norsk Hydro ASA with 8.4 %, Elf Petroleum with 5.6 % and Deminex with 2.8 %.

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