Petsec Escapes Katrina's Wrath

Petsec Energy has completed an assessment of its offshore oil and gas facilities in the Gulf of Mexico and reports no material damage as a result of Hurricane Katrina.

The West Cameron 343/352 platform was unaffected by the Hurricane and this field is now producing at normal levels.

At the Vermilion 258 platform, crews have been mobilized back to the platform and have completed their inspection of facilities, reporting no material damage. Recommencement of production is now dependent upon downstream pipelines operated by third parties which currently remain shut-in, but which are anticipated to re-open next week.

At Main Pass 19, a crewboat reached the area overnight and reported no apparent structural damage to the caisson or completed wells. The development of Main Pass is now expected to proceed as planned, with installation of the jacket to commence as soon as conditions permit.

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