Chevron, Partners Celebrate First Production From U.K.'s Britannia Field

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Aug 3, 1998

A major new gas condensate field has begun production, on time and nearly 20 percent under its original budget, Chevron announced today.

The Britannia field is one of the largest known remaining gas fields in the U.K. to be brought onto production. With estimated gas reserves of 3 trillion cubic feet, the field will produce enough gas to meet at least eight percent of the countrys current energy needs

Operated jointly by Chevron and Conoco on behalf of an international consortium, Britannia is located 130 miles northeast of Aberdeen in the U.K. sector of the North Sea. The field was developed with the major part of its gas production pre-sold under long-term contracts.

The Britannia project team deserves high praise, said Richard Matzke, a director of Chevron Corp. and president of Chevron Overseas Petroleum Inc. Im proud of them and of the results of their dedication and determination, particularly as they maintained an enviable safety record while bringing the project in under budget.

Matzke pointed out that the original development budget of $2.5 billion was reduced by nearly 20 percent, with actual costs now forecasted at approximately $2 billion a significant savings and a testament to the project teams cost-reducing commitment.

Through its steel platform and subsea facilities, Britannia is expected to reach its full daily capacity of 740 million standard cubic feet of gas per day, and over 50,000 barrels of condensate by Oct. 1, 1998. Gas will be transported through a new pipeline to St Fergus, Scotland; condensate will be transported via the Unity Platform into a second new pipeline connecting to the Forties Pipeline System.

Establishing and maintaining an exemplary safety record was job one, noted Robert Connon, managing director of Chevron U.K. Ltd.We congratulate the project team on bringing the field on stream with a safety performance of which our team and our industry can be proud.

Chevron U.K. Ltd., a subsidiary of San Francisco-based Chevron Corp., pioneered U.K. North Sea drilling in 1964 and is currently operator of the Alba field.

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