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Talisman Restarts Production at Duart Field

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Bridge Energy ASA announced that production restarted on the Duart field on April 9, 2012.

The Duart field has been shut in since October 5, 2011 as a result of planned maintenance activity on the host Tartan platform. The extended shutdown on the Tartan platform has enabled completion of a more comprehensive maintenance work scope which should increase the near term uptime of the facility. The anticipated increase in host uptime and a period of flush production following the long shut down, will partially offset the delayed Duart production volumes, but overall 2012 revenues from Duart are expected to be higher because of the increased oil price.

The Company expects that net Bridge Energy production from the Duart field will be between 145,000 barrels and 165,000 barrels for 2012.

The Duart field was acquired from Nexen Petroleum Dragon UK Limited in December 2011.Talisman acts as operator of the field.

"We are very pleased to announce the re-start of production from the Duart field. Following the extended shutdown we can expect higher sustained production levels from the field which, combined with the production revenues from our Victoria field production, supports our ongoing high impact exploration program," said Deputy CEO of Bridge Energy ASA Tom Reynolds.

 

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