25th Oct 2013 11:46
LONDON (Alliance News) - Premier Oil PLC Friday said it has commenced first production from the Rochelle gas-condensate field in the UK North Sea.
The exploration and production company said that initial production is from West Rochelle, although drilling continues on East Rochelle and it expects it to be on-line during the fourth quarter of this year. It also said that all production from Rochelle will be processed at the Nexen UK-operated Scott platform.
The Rochelle field in Blocks 15/26b, 15/26c and 15/27 lies approximately 115 miles northeast of Aberdeen.
Premier Oil said the field development consists of the construction of two subsea production wells, East and West Rochelle, and the installation of a production pipeline to the Scott platform.
Premier Oil holds a 15% stake in the Rochelle field, and a 21.83% unitised interest in the Scott field facilities. Nexen Petroleum owns a 41% interest in the Rochelle field, of which Nexen Petroleum UK Limited acts as the field operator.
Premier Oil shares were trading 3.1% higher Friday afternoon, at 345.20 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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