18th Oct 2005 07:29
Europa Oil & Gas (Holdings) PLC18 October 2005 Europa Oil & Gas (Holdings) plc Bilca Construction Award Europa Oil & Gas (Holdings) plc, the independent oil & gas exploration andproduction group with assets in the UK and continental Europe, today announcesthat the construction contract for the Bilca Gas Development in Romania has beensigned. The contract was awarded to Condmag SA, Brasov and Inspet SA, Ploiesti, bothlarge Romanian contractors. The installation comprises the productionfacilities, flowlines and export lines for a complex of three gas fields (BilcaEast, Bilca West and Fratauti) situated in the EIII-1 Brodina Block, in whichEuropa holds a 28.75 per cent. interest. The work will commence immediately andthe facilities are expected to be completed in early 2006. The Bilca and Fratauti gas discoveries were drilled between May 2004 and March2005 and flowed at rates between 6.3 mmscfpd (approximately 1,000 boepd) and12.7 mmcfgpd (approximately 2,000 boepd) respectively. The Brodina Block contains a further Bilca 'look-a-like' prospect(Costisa-Radauti-1) for which drilling consent was obtained from the Romaniangovernment earlier this month. The Directors anticipate that this well will bedrilled in 2006. In addition, work will continue to identify further prospectson the Block with a seismic survey planned for early 2006. Paul Barrett, Managing Director of Europa, said: "The continued progress on this project demonstrates our commitment to theprogramme we set out in our AIM prospectus. This project is on track toincrease our production substantially in 2006 whilst the parallel explorationwork in Romania is expected to increase our reserves and resources further overthe coming year." For further information, contact: Europa Oil & Gas 00 33 563 331 897Paul Barrett Westhouse Securities LLP 020 7601 6100Bill StapleTim Feather Please also see www.europaoil.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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