Clyde Petroleum Announces First Production from Castricum-Zee

Clyde Petroleum Exploratie B.V., a wholly owned subsidiary of Conoco announced that production from its Castricum-Zee natural gas field began on July 25, 2001.

The Castricum-Zee field has potential net recoverable reserves of approximately 35 billion cubic feet (bcf) of natural gas (70 bcf gross). Located some four miles off the Dutch coast, the field was discovered in June 2000.

Extended reach drilling enabled the field to be brought into production quickly, safely and in an environmentally responsible manner via the existing Q8-A platform some three miles away.

"Our ability to bring this field on stream so quickly after discovery really is a significant technical achievement," said Tom Trowell, Clyde Petroleum's manager of exploitation. "Success can be attributed to extensive planning and teamwork by our employees and contractors."

The extended reach well was drilled at a high angle to 17,067 feet total measured depth (5,807 feet total vertical depth) in 56 days. It was completed under budget and a month ahead of schedule.

Castricum-Zee is the second field brought on stream by Clyde in the past seven months. The Q4-9 discovery was brought into production in December 2000. A further discovery is scheduled to come onstream next month.

"Development of these satellite fields enables us to extend the life of existing facilities and infrastructure, while boosting production," Trowell added.

Conoco recently acquired Clyde Petroleum as a result of its acquisition of Gulf Canada Resources Limited. Clyde Petroleum, as operator, and Dyas B.V each hold a 50 percent interest in the field.