Enterprise Oil PLC
13 July 2000
Enterprise Oil announces project sanction of Skene development
Enterprise Oil announced today that project sanction has been granted by the
Department of Trade and Industry (DTI) for the Skene field development to
proceed.
The Skene field is located in Block 9/19 in the northern North Sea and is
estimated to contain 95 million barrels of oil equivalent. The field is
expected to produce up to 180 million cubic feet of gas per day and 25,000
barrels per day of associated liquids when production begins by early 2002.
Skene will be developed using a subsea manifold tied back to the Beryl Alpha
platform with gas export through the Scottish Area Gas Evacuation (SAGE)
pipeline to St Fergus.
Peter Kallos, General Manager - UK, commented: 'We are delighted with the
project sanction for this field. Our interest in Skene was acquired as part of
a strategic asset acquisition in 1997 which consolidated our interests in the
Beryl area. This project will allow Enterprise to capitalise on its existing
infrastructure position and emphasises the growth in the company's UK
business.'
Partners in the field are:
Amerada Hess 9.07 per cent
Enterprise Oil plc 15.89 per cent
Kerr McGee 33.33 per cent
Mobil North Sea Limited 38.22 per cent (operator)
OMV (UK) Ltd 3.49 per cent
For further information please contact:
Peter Reilly, Head of Investor Relations, Enterprise Oil plc 020 7925 4229
Sucharita Sethi, PR Officer, Enterprise Oil plc 020 7925 4160
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