July production
(Thomson Reuters ONE) - Stavanger, 10. August, 2009: Norwegian Energy Company ASA (Noreco -OSE:NOR), Noreco's production in July 2009 was 11,500 barrels oilequivalents per day.The production rate at the end of July was approximately 13 000barrels per day. Noreco's production will increase in the second halfof the year as new wells start up on Brage and Nini and the new fieldNini East start production. The development of the Nini East field isprogressing according to plan, and production wells will now bedrilled. Nini East will increase Noreco's production by more than3000 barrels per day when the field starts production in Q4 2009The production in July was impacted by reduced Nini production due toshut down of wells at the Nini-field in conjunction with welloperations and shutdown of water injection during the replacement ofthe Siri to Nini water injection pipeline. The Nini water injectionpipeline is expected to be back in operation at the end of August.The Lulita field was shut down in July at the start of a 2.5 monthsplanned maintenance shutdown at the Harald field. At the end of Julythe Brage field production was back to the production levels prior tothe June maintenance shutdown. The drilling of the Brage A-22A wellhas been succesfully completed as a ultra long reach water injectionwell to the Bowmore structure. The Bowmore producer is stillproducing at more than 16,000 bopd and will be further strengthenedwith water injection in well A-22A.The achieved price for July was 63 US$ per barrel of oil equivalent.The net achieved price of reflects Noreco's oil price put options at50 and 75 US$ per barrel as well as adjustments for inventory and NGLand gas prices.The production volumes are preliminary and are subject toadjustments, including final allocations between fields, qualityadjustments and prices.Contacts:Scott Kerr, CEO (+47 992 83 890)Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.08.2009 - 09:31 Uhr
Sprache: Deutsch
News-ID 4522
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