The Alen field in Equatorial Guinea commences production

abarrelfullabarrelfull wrote on 26 Aug 2014 09:09

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PA Resources advises the commencement of production from the Alen field in Equatorial Guinea where the company holds a 0.285% unitised interest.

PA Resources holds a 0.285% unitised interest in the Alen gas/condensate field in Equatorial Guinea through its 5.7% interest in Block I which contains 5% of the field, with the remaining 95% lying in Block O. The field has been developed by a consortium comprising of the Block O and I partners and is operated by Noble Energy EG Limited.

Produced gas and condensate volumes have increased over recent weeks as commissioning of wells and facilities continues towards full operations later in Q3. Whilst the Alen field will only contribute at modest production levels net to PA Resources, Alen utilises the Aseng FPSO for condensate storage and the sharing of facilities and costs with the Aseng field is expected to reduce the operating costs attributable to Aseng by gross USD 50-60 million per year. For PA Resources this means a reduction in Aseng operating costs in excess of USD 3 million on an annual basis.

The Alen Field development project has been delivered ahead of schedule and slightly below the sanctioned cost of USD $1,370 mm (PA Resources share approximately USD 4.1 million).

Graham Goffey, Managing Director for North Sea and West Africa, commented: “We are pleased to see our second Block I field development commence production and we now look forward to the results from the ongoing Diega appraisal programme, which is proceeding according to plan”.

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