July 2010 production
Total production from the Siri area in July was 15,950 boe/day (5,875 boe/day net to Noreco). The SCB-1 well on the Siri field is still shut in pending repair of a safety valve. The Siri field production was 4,125 boe/day (2,075 net). Nini East delivered 7,625 boe/day (2,275 net). Nini produced 3,350 boe/day (1,000 net), while Cecilie production was 875 boe/day (525 net).
Brage produced 31,400 boe/day (3,775 net) in July. The first onset of water production from the Bowmore segment was observed late in Q2, and this continued in July. Moreover, gas injection was resumed in July. This is done to increase oil production, however the short term impact is reduced gas available for sale. Drilling of a new production well is ongoing with expected completion in the second half of 2010.
South Arne production was 18,750 boe/day (1,225 net), somewhat down from June due to postponed well interventions during the ongoing drilling of new production wells. The new wells are expected to come on stream in October.
Net production to Noreco from the fields Enoch and Lulita was 200 and 300 boe/day respectively.
Production volumes and prices are preliminary and are subject to adjustments, including final allocations between fields, quality adjustments and prices.
For further information, please contact:
Scott Kerr, CEO (+47 99 28 38 90)
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)