15th Jan 2015 10:54
LONDON (Alliance News) - BG Group PLC Thursday said gas and condensate production has begun at the West Franklin field in the UK North Sea, and it claimed to have pushed the boundaries of high pressure, high temperature developments in the process.
The project is operated by French company Total SA and involves drilling three wells and installing two new platforms that are tied in to existing facilities. BG Group said the reservoir temperatures are extremely high and said the project has "advanced the boundaries of existing high pressure-high temperature technical know-how in the industry."
BG Group holds a 14.1% stake in the project, whilst Total holds a 46.2% interest as operator. Other partners include Eni SpA, which holds a 22% interest, E.ON UK PLC, with a 5.2% stake, Chevron PLC, with a 3.9% stake, Dyas BV, which holds a 2.2% interest and Sumitomo Corp with a 2.2% stake.
"We are pleased to see first production from the West Franklin field which will help extend the life of this important North Sea hub. By working closely with Total and other joint venture partners we have contributed and extended our knowledge of high pressure high temperature gas developments which is key to our UK strategy," said Ernst den Hartigh, managing director of BG's European exploration and development business.
The field is due to deliver average production of 40,000 barrels of oil equivalent per day from reserves of 85 million barrels of oil equivalent. The gas and condensate from West Franklin will be processed at the Elgin platform, before it is exported to the UK mainland through the SEAL pipeline to Bacton for gas and the FPS pipeline to Kinneil for condensate.
BG shares were up 0.7% to 800.50 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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