Anzon Energy Says Production Hit at Basker-Manta Field

The Basker Manta Gummy Joint Venture advises that the Crystal Ocean FPSO and the Basker Spirit shuttle tanker have returned to the field and both were connected to their respective moorings on Thursday, July th. Recommencement of production operations was initiated with water being pumped from the Basker Spirit to the Crystal Ocean prior to commencing oil transfers.

At 7:00 pm on July 5th the Single Point Mooring (SPM) for the Basker Spirit parted and the Basker Spirit drifted away from its location. No personnel were injured and no environmental incident has occurred.

At the time the SPM parted the weather conditions were rough but well below the extreme conditions of the previous week; the Basker Spirit was in fact weather vaning without the need for the dynamic positioning system.

The actual nature of the damage to the SPM could not be determined overnight. Inspections will be conducted during the day but it is anticipated that the producing operations will be curtailed for a number of weeks to repair the SPM. A business interruption insurance policy is available to the Joint Venture.

The participants in the Basker Manta Joint Venture are:

Anzon Australia Limited 50% (Operator)
Beach Petroleum Limited 50%