Extra crude oil possible from Norway's Vega well
LONDON, July 14 (Reuters) - Modifications made to the Vega South wells project in the North Sea will enable the extraction of light crude oil, in addition to the planned production of gas and condensate light oil, operator StatoilHydro (STL.OL) said.
The company said in a statement on Tuesday that extra meters installed in the wellheads would allow 7 million barrels of light crude oil to be recovered.
"The two Vega South wells will be designed to handle the extra crude when they're drilled this autumn," Tom Hasse Pedersen, venture manager for the Vega South oil project, said.
He added that the project will be completed by next spring or summer and is expected to cost 350 million Norwegian krone ($54.05 million).
Vega South and the nearby Vega field have a combined gas reserve of 18 billion cubic metres and 26 million barrels of condensate, Statoil's website said. Both products will be transferred through new pipelines connected to the Gjoa field.
From Gjoa, gas will move through the British FLAGS pipeline to St. Fergus in Scotland, while crude oil and condensate will be transferred through the new Troll oil pipeline II to Norway.
Gjoa is set to start operation in the first quarter of next year, Statoil said. ($1=6.475 Norwegian Crown) (Reporting by Kwok W. Wan, Editing by Michael Kahn)
