UK's Cygnus Project to Support 4,800 Skilled Jobs during Build Phase

GDF Suez Managing Director Ruud Zoon said:

"As operator of the Cygnus field, we are very pleased with the success of UK-based companies in securing over 80 percent of the contract work in competitive tender. This is testament to the technical and commercial excellence of the UK supply chain. Good progress is being made on the project with the 2014 installation campaign now complete and drilling activities underway."

Colette Cohen, senior vice president for the UK and the Netherlands at Centrica, added:

"This report underlines how significant an impact the Cygnus project is having across the UK both in terms of investment and jobs, as well as strengthening our security of gas supply. This is a great example of what can be achieved when we invest in skilled people across the UK, creating thriving energy coasts and securing gas for the UK."

Sanctioned in 2012, the Cygnus field is the largest discovery in the North Sea's Southern Gas Basin for more than 25 years. Located just over 90 miles off the coast of Lincolnshire, England, it has estimated gross 2P reserves of approximately 635 billion cubic feet of gas. The plan is that Cygnus will meet the demand for nearly 1.5 million UK homes, accounting for around 5 percent of the UK's total gas production by 2016.

GDF Suez operates the Cygnus project with a 38.75-percent interest, with partners Centrica Energy and Bayerngas holding 48.75 percent and 12.5 percent respectively.


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