Parkmead Group, the UK and Netherlands focused independent oil and gas group, announced Friday that first commercial gas production has been achieved at the Diever West gas field in the Netherlands.
Located onshore on the western edge of the Lower Saxony Basin, approximately six miles east of the producing Weststellingwerf, Noordwolde, Vinkega and Nijensleek fields, the Diever West field has been tied into existing production facilities through a new dedicated pipeline. The field was discovered in September 2014 through the Diever-2 well, which registered an output rate of 29 million cubic feet per day, or around 5,000 barrels of oil equivalent per day, during flow tests.
Tom Cross, Parkmead’s executive chairman, commented in a company statement:
“We are delighted to achieve first gas from the Diever West field in the Netherlands, which provides an important additional revenue stream for Parkmead. The company has already received revenues from the first gas sales from the field.
“Parkmead has worked closely with its joint-venture partners on the fast-track development of Diever West. We have successfully brought this new gas field on-stream within just 14 months of discovery. This is an outstanding achievement.
“The new gas production from Diever West will act as a natural hedge to the low oil price environment at this key stage in Parkmead’s growth.”
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