Resumption of production from Q10-A

RNS Number : 6877M

Kistos PLC

23 September 2021

 

23^rd September 2021

Kistos plc

("Kistos" or the "Company")

Resumption of production from Q10-A

Kistos (LSE: KIST), the low carbon intensity energy producer pursuing a strategy to acquire assets with a role in energy transition is pleased to announce that, following a planned four-week maintenance shutdown previously announced by the Company on 1 September 2021, the TAQA operated P15-D platform has resumed normal operations. In turn, this has allowed the resumption of gas export from the Q10-A gas field, which is operated by Kistos with a 60% working interest.

Commenting, Andrew Austin, Kistos' Interim CEO, said:

"I am pleased that TAQA has completed maintenance operations at P15-D on schedule and that we have been able to restart production from Q10-A on time. This and our on-going drilling programme, which includes work designed to enhance output from the Q10-A area, will allow us to realise enhanced returns from the prevailing gas prices during the remainder of 2021 and into 2022."

ENDS 

Enquiries:

Kistos plc Andrew Austin	c/o Camarco Tel: [phone]
Panmure Gordon Nick Lovering / Atholl Tweedie / James Sinclair-Ford	Tel: [phone]
Camarco Billy Clegg / James Crothers	Tel: [phone]

Notes to editors

Kistos plc was established to acquire and manage companies in the energy sector engaging in the energy transition trend. The Company has acquired Tulip Oil Netherlands B.V., which has a portfolio of assets, including profitable, highly cash generative natural gas production, plus appraisal and exploration opportunities. The Company has 19.5 mmboe of 2P reserves and an additional 102.1 mmboe of contingent resources.

Kistos is a low carbon producer. The Q10-A gas field in the Dutch North Sea (60% operated working interest) has recorded a Scope 1 carbon emissions intensity of 13g CO₂e/boe since inception. This compares to an industry average of 22kg CO₂/boe for gas extracted from the UK continental shelf.  The Q10-A normally unmanned installation is located approximately 20 km from the Dutch shore. It is powered sustainably via wind and solar power and is remotely operated, limiting offshore visits, which are conducted by boat.

https://kistosplc.com/

 

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