Braemer Field Not Expected Onstream This Year

Marathon's Braemar gas and condensate field in the North Sea is unlikely to go onstream as scheduled in 2002. "Partners are still discussing development options for the field, and start up is unlikely to be in 2002," according to company officials. Braemar, which is likely to be developed as a single subsea well tied back to the East Brae platform operated by Marathon Oil UK Ltd, is located in Block 16/3c. Braemar's recoverable reserves are estimated to be nine million barrels of condensate and 115 billion cubic feet (3.256 billion cu meters) of gas.

Marathon holds a 26% interest if the field as operator; BP holds 51%, Talisman holds 10%, Kerr McGee holds 5%, Burlington holds 4%, Lundin holds 3% and BG holds the remaining 1%.