Development plan submitted for Brynhild field
(Thomson Reuters ONE) -
Stavanger, 2 August 2011: Norwegian Energy Company (Noreco) is pleased to
announce that Lundin Petroleum on behalf of license PL 148 in Norway has
submitted the Plan for Development and Operations (PDO) for the Brynhild field
(previously known as Nemo) to Norwegian authorities.
The Brynhild field is located adjacent to the Norwegian - United Kingdom (UK)
international border. The PDO includes three wells and pipelines/umbilical tied
back to the existing Shell operated Pierce field infrastructure in the UK sector
of the North Sea. Brynhild is estimated to hold 22 million barrels of oil in
gross proved and probable reserves with a forecast gross peak production of
approximately 12,000 barrels of oil per day.
Noreco has also entered an option agreement which gives the company a right to
sell its interest in PL148 to another party. This option expires during fourth
quarter 2011, and Noreco will over the coming months evaluate its position in
the Brynhild development and make a decision on whether to invest in the project
or sell its interests in the license. A potential sale under this option
agreement is not expected to have any material impact on Noreco's financial
results or covenants.
Noreco has a 20 percent working interest in the Brynhild field. Lundin Petroleum
is the operator and has a 50 percent interest in the field, while Talisman holds
a 30 percent interest.
Contacts:
Einar Gjelsvik, CEO (+47 992 83 856)
Kjetil Bakken, VP Strategy & Investor Relations (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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
[HUG#1535475]
Unternehmensinformation / Kurzprofil:
Datum: 02.08.2011 - 08:52 Uhr
Sprache: Deutsch
News-ID 56900
Anzahl Zeichen: 2354
contact information:
Town:
Stavanger
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 128 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Development plan submitted for Brynhild 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).
