Petro-Canada Extends North Sea Fields
|Wednesday, July 03, 2002
Petro-Canada has completed an extension project that will add approximately 18,000 barrels a day of crude oil production to two North Sea oil fields. The company invested GBP 50 million in the Western Extension project which was completed on schedule and under budget. The project raises crude output from the Guillemot West and Northwest oil fields to over 28,000 barrels per day. The fields are located 110 miles east of Aberdeen, Scotland. Oil began flowing from the Western Extension in early June. "This development is typical of the many smaller deposits remaining in the North Sea, and which will play an increasingly important role in the future to maintain production and employment levels in the U.K. offshore industry," said Reidar Hustoft, Petro-Canada's acting regional manager for Northwest Europe.
Petro-Canada U.K. Ltd. holds an 80% interest in the fields. Shell U.K. Exploration and Production, and Esso Exploration and Production U.K. Ltd., each hold 10%.