StatoilHydro to Recover Vega South Oil

Maritime Activity Reports, Inc.

July 15, 2009

StatoilHydro hopes to recover seven million barrels of oil and a billion standard cu. m. of associated gas from Vega South. Located in the northern North Sea, this structure forms part of a project which includes the Vega North and Vega Central discoveries. Plans have called for these finds to be developed as a gas and condensate (light oil) field. StatoilHydro will also produce a thin layer of light crude from the southern discovery, though extra meters must be installed on the wellheads to permit its recovery. The total price tag for the project is about $5.4 million. Since the light crude is not very different from the relatively fluid-rich gas/condensate, it has been possible to come up with a solution which uses the same wells.

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