1st Jul 2008 07:49
Emerald Energy Plc
1 July 2008
Khurbet East Field Update, Block 26, Syria
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on activities in the Khurbet East field in Block 26, Syria.
The procurement, construction and installation of the early production facility in the Khurbet East field has now been completed. This facility, capable of processing some 10,000 barrels per day, will now be tested and commissioned prior to start-up for commercial oil production.
The five producer wells already drilled on Khurbet East field are being connected by flowlines to the early production system. After these connections are completed three of the wells, Khurbet East No.4, No.5, and No.6 will be immediately available for production. The remaining two wells, Khurbet East No.2 and Khurbet East No.3 will be re-entered, completed as production wells and then will also be available for production. These operations are expected to be completed by early August.
Production from the field is now expected to commence during August 2008.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are delighted with the results of the effective co-operation of all the parties involved in the Khurbet East field early development, particularly the Government of Syria and the Syrian Petroleum Company, resulting in the expected commencement of production being within 5 months of receiving approval for the field's development and less than 18 months after the initial discovery."
Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG Overseas Ltd.
Enquiries: Lisa Hibberd 020 7925 2440
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