Northern Fires Up Gas Production at Netherlands Field
Northern has started production at at the Wijk en Aalburg gas field in The Netherlands. The forecasted contracted gross gas sales volume from the Wijk en Aalburg field is 150,000 normal cubic meters per day (5.6 million standard cubic feet per day or 963 barrels of oil equivalence per day ("boepd"), 433 boepd net to Northern), which brings Northern's daily production capacity to the higher end of our forecasted 2200 - 2300 boepd.
On December 16, 2010 Northern Petroleum Nederland B.V. ("NPN") commenced commercial gas production from the Wijk en Aalburg field in the Andel III license. This is the fourth of six onshore oil and gas fields that, together with its Joint Venture Partners, NPN has brought into production under a 2005 agreement between NPN and Nederlandse Aardolie Maatschappij (NAM), the joint Shell / ExxonMobil company in The Netherlands (announced 14th June 2005).
NPN, the Operator, has a 45% license interest. Partners, EBN, the Netherlands' state participant and Dyas B.V. ("Dyas"), hold 40% and 15% interests respectively.
Chris Foss, Northern's Director of Finance, Legal & Corporate Affairs, commented, "We have achieved earlier first production than expected through the sterling efforts of the operations team over recent months, latterly during sub zero weather conditions. Our target of a daily production capacity at the higher end of our forecasted 2200 - 2300 boepd has been achieved. We can take pleasure that our 2010 new production from Brakel and Wijk en Aalburg has coincided with a rise in received prices of little over 27% during this year. The next stage
is to focus on the development of the Papekop and Ottoland oil fields and further development drilling at Geesbrug."
Chairman of the Executive Board of EBN, Jan Dirk Bokhoven,said, "EBN once again congratulates Northern Petroleum with a job well done. As with Brakel, bringing this field in production was a challenge, but we are happy tosay that Wijk en Aalburg production will aid EBN in developing energy sources in a manner that is profitable for Dutch society."
Peter Veenhof, Managing Director of Dyas,also commented, "We are delighted with the commencement of production on the Wijk en Aalburg gas field before year end 2010, which unlocks the commercial development of a fourth small gas field in the Netherlands."
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