The re-equipping of the oil producing platform on High Island 30 (Pan Andean 62.9%) is complete. Construction of connecting pipelines is also complete. Gas compression and transmission facilities to shore are being installed on a platform on block High Island 24. Completion date is late December when start-up is expected. Prior to shutdown High Island 30 was producing 300 barrels of oil per day.
John Teeling, Chairman, commented. 'This is good news. We were lucky to escape virtually unscathed from the ravages of Hurricane Rita. Our current main source of offshore income is now back in production while we are expecting a late December re-start for our oil producer. Current high oil and gas prices are very beneficial to Pan Andean. Developments in our onshore acreage and elsewhere will be reported on in the near future.'
Most Popular Articles