Statoil has received approval to develop Visund South oil field in the Tampen area of the Norwegian North Sea and will start drilling in August.
The project is part of Statoil’s fast-track program for small and medium-size fields. Development will involve installation this month of a four-slot subsea template from which three wells will be drilled and tied back to the Gullfaks C platform 10 km away for processing.
Production start is scheduled for the third quarter of 2012.
The field is 10 km south of Visund oil and gas field, a development based on wells completed subsea and a floating production, drilling, and quarters platform.
Visund South incorporates the Pan and Pandora discoveries of 2008-09. The reservoir is estimated to contain 67 million boe—one-third oil and two-thirds gas. The reservoir, with 340 bar reservoir pressure, lies 2,900 m below the seabed under 290 m of water.
Statoil, operator with 53.2% interest, expects Visund South to produce for more than 15 years. Other interests are Petoro 30%, ConocoPhillips 9.1%, and Total 7.7%.