EBN Buys into Oil Production at Dutch North Sea Block

Dutch oil and gas firm EBN reported Wednesday that it has bought from GDF Suez a 40-percent share in oil production at the L5a block in the Dutch zone of the North Sea. Located around 60 miles northwest of Den Helder, the L5a block includes the L5a-E oilfield. 

EBN has been a partner with GDF Suez in gas production in the L5a block since 2008. The deal announced today that GDF will retain a 60-percent stake in the block's oil production.

EBN noted that the L05-13 well recently encountered oil. An evaluation well, L05-14, is currently being drilled and is located around one mile northeast of the LO-13 well. Both wells are designed to give EBN and GDF more information about the characteristics of the oilfield, with both firms planning to develop the field.

EBN CEO Jan Dirk Bokhoven commented in a company statement:

"L05a is one of the developments in the growing oil portfolio of EBN. The successful cooperation with GDF Suez shows that besides natural gas production there are opportunities for oil production in the Dutch North Sea too."



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