FPSO contract signed for Huntington field
(Thomson Reuters ONE) -
Stavanger, 9 November 2010: Norwegian Energy Company ASA (Noreco, OSE:NOR) is
pleased to announce that the joint venture partners in the Huntington field
development today signed a leasing contract for the FPSO Sevan Voyageur.
The FPSO Sevan Voyageur is currently in the Nymo yard in Arendal, Norway, where
gas compression and water injection upgrades will be carried out. The FPSO will
be installed on the Huntington field in the fourth quarter of 2011. Production
is expected to commence in the first quarter of 2012.
"The signing of this contract represents an important milestone for the
Huntington field development. Huntington will be Noreco's first producing field
in the UK, and it will be a significant contributor to the company's overall
production from 2012 onwards. The field also represents a stepping stone for
further exploration activity in the UK, where we have built an exciting
portfolio of exploration targets," says Noreco's CEO Scott Kerr.
The Huntington Field was discovered in 2007. The initial development will
exploit the Forties Palaeocene reservoir with up to four production wells and
two water injectors. The production facilities have a capacity of 30,000 barrels
of oil per day. Natural gas will be exported via pipeline through the CATS
system. Total development cost is estimated at GBP 320 million. The FPSO is
leased for five years, with options for further extensions.
The Huntington Field is located in Block 22/14b in the UK part of the Central
North Sea. Noreco has a 20% interest in the block, which is operated by E.ON
Ruhrgas UK E&P (25% interest). The other partners are Premier Oil UK Limited
(40%) and Carrizo Oil & Gas, Inc. (15%).
For further information, please contact:
Scott Kerr, CEO (+47 99 28 38 90)
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1460530]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2010 - 15:26 Uhr
Sprache: Deutsch
News-ID 48579
Anzahl Zeichen: 2730
contact information:
Town:
Stavanger
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 174 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"FPSO contract signed for Huntington field"
steht unter der journalistisch-redaktionellen Verantwortung von
NORECO (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
