First Oil Completes The Acquisition Of Murphy Mungo Limited

abarrelfullabarrelfull wrote on 27 May 2014 18:32

JUNE 2013

First Oil has completed the acquisition of Murphy Mungo Limited.

Murphy Mungo Limited owns 12.645085% of the Mungo and Monan fields as well as 3.433% of the Eastern Trough Area Project central processing facility (ETAP CPF). The Mungo field is a normally unmanned facility tied back to the ETAP CPF. The Monan field is a subsea tie back to Mungo.

The fields are currently producing circa 12,000 barrels of oil equivalent per day (boepd) resulting in net attributable production of c.1,500 boepd to First Oil. The Mungo and Monan fields are operated by BP Exploration Operating Company Limited. JX Nippon Oil Exploration and Production (U.K.) Limited is the other non-operated partner in the fields.

First Oil are delighted to acquire an interest in a long life asset which has the potential for significant growth through a planned infill drilling and development programme and look forward to working with our partners in delivering the identified upside.
First Oil continues to look for further acquisition opportunities to enhance our growing asset portfolio.

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