Petro-Canada Moves Ahead with Pict Development Plans

Petro-Canada is going forward with its £50 million development plan for the Pict field in the North Sea. Applications have been submitted to the UK Government for approval to develop the field.

The Pict field, formerly known as Grebe, is located approximately 110 miles east of Aberdeen. Petro-Canada acquired the field as a part of an asset package from Shell and ExxonMobil.

The field is expected to begin production late in 2005 and will be tied back to the Triton floating production vessel. Daily production from Pict is likely to peak at 10,000 barrels of oil.