Sevan, Ruhrgas Sign LOI for FPSO for Huntington Development

E.ON Ruhrgas and partners have entered a Letter of Intent to progress negotiations on a charter party for the potential use of the Sevan Voyager FPSO as the production unit for the Huntington field in Block 22/14 of the UK Continental Shelf. Negotiations will be on a mutually exclusive basis for the period until June 30, 2010, and the proposed charter party will be for a fixed term of five years with extended options. The Huntington oil field is operated by E.ON Ruhrgas, holding a 25% interest; Premier Oil holds 40%; Carrizo holds 15%; and Altinex holds the remaining 20% interest.

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