ProNed estimates total reserves of the five fields at 18 billion cubic meters of natural gas, ProNed's share amounting to 8 billion cubic meters. Approximately 12.8 billion cubic meters has been purchased and will be brought to the market by Gaz de France.
Maximum production capacity for the five fields is estimated at 7.2 million cubic meters per day, which includes 3.6 million cubic meters per day for ProNed.
The gas fields in the K2, G16a and G17a blocks were developed by ProNed in partnership with Energie Beheer Nederland BV.
DSM Energie BV, the Nederlandse Aardolie Maatschappij BV, as well as Energie Beheer Nederland BV participated in the development of the two fields in the G14 block.
The project began in 2004 with the discovery and acquisition of the fields by Gaz de France, and consisted of the relocation of two existing platforms and one sub-sea completion, the construction of two new platforms and the laying of 46-km offshore gas pipeline. Total investment in the project is over €300 million, of which €164 million for Gaz de France.
This operation enables Gaz de France to double its production capacity in the Netherlands on a medium-term, where it is already present through its subsidiary ProNed, one of the top four Dutch producers, acquired in 2000.
This allows Gaz de France to increase its reserves and strengthens its exploration and production activities, conducted in the eight countries that supply Europe with natural gas. In 2004, Gaz de France's production capacity totaled 5.2 billion cubic meters of natural gas.
This development is part of Gaz de France's strategy to increase its portfolio diversity and helps to secure Group supplies. It also contributes to its medium-term target of producing gas in quantities equivalent to 15% of its direct sales.
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