Statoil Says ‘Fast Forward’ for Vilje South

Nov. 24 (Bloomberg) -- Statoil ASA said today that the Vilje partners have taken the investment decision to develop Vilje South, an extension to the main field included in its original plan for development and operation, according to an e- mailed statement today.

Recoverable reserves in Vilje South are estimated at 7.6 million barrels of oil equivalent, mainly in the form of crude. Net oil production from the Vilje South well in 2014 is expected to be about 5,000 barrels per day, with total investment in money of the day put at 1.1 billion kroner.

To contact the editor responsible for this story: Meera Bhatia at mbhatia2@bloomberg.net