Pengrowth Corporation, administrator of Pengrowth Energy Trust, announced that production from the Sable Offshore Energy Project ("SOEP") in Nova Scotia has been temporarily shut-in after an operational incident, cutting off approximately 400 million cubic feet per day (mmcfpd) of gas production. Pengrowth is an 8.4 percent non-operated working interest partner in the Exxon Mobil operated field.
SOEP typically produces approximately 400 mmcfpd, however the field has been operating at less than normal rates, recently due to scheduled maintenance. The impact of the SOEP shut-in on Pengrowth is estimated to be between 3,800 and 5,800 barrels of oil equivalent per day (boepd) during this planned maintenance period. When operating at normal capacity, Pengrowth's associated net working interest production at SOEP is approximately 6,800 boepd.
Exxon Mobil is currently working to restore production levels as soon as possible and Pengrowth will provide more information when certainty has been given as to when production will be restored.
Pengrowth is not aware of any environmental impacts that have occurred as a result of the incident.
The Sable Offshore Energy Project is the largest construction project ever undertaken in Nova Scotia. The Sable Project is divided into two 'tiers' of offshore development.
The first tier was completed in December 1999 and involved the development of the Thebaud, North Triumph, and Venture fields, as well as the construction of three offshore platforms, an onshore gas plant and an onshore fractionation plant.
Gas production commenced on December 31, 1999. Alma, the first Tier II platform came onstream in late 2003 while production from South Venture, the second field began late in 2004.
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