Noble Energy Announces Startup Of Phase Two Of Dumbarton Development In The North Sea

abarrelfullabarrelfull wrote on 27 May 2014 18:25

Noble Energy, Inc. (NYSE: NBL) today reported that production has commenced from the second phase of development at the Dumbarton field in blocks 15/20a and 15/20b in the UK sector of the North Sea. The phase two development involves drilling up to eight new horizontal production wells in Dumbarton and the nearby Lochranza discovery. The first two wells have been brought online increasing the total field production to over 40,000 Boe/d, gross.

"We are very encouraged with the results to date at the Dumbarton project. The first phase of development has more than paid out our initial investment and continues to generate robust cash margins while phase two drilling is progressing ahead. Further drilling at Dumbarton and Lochranza will soon be underway with additional volumes expected in the latter part of 2009. This is a very important growth project for Noble Energy and should allow us to double our average daily annual North Sea production by 2010," said Rodney D. Cook, Senior Vice President, International.

Noble Energy has a 30 percent working interest in the Dumbarton and Lochranza fields. Maersk Oil operates the properties and has the remaining 70 percent interest. Over 17 million barrels of oil have been produced from the Dumbarton field through the FPSO Global Producer 3 since start-up in January 2007.

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