ConocoPhillips' Jade Field Hits Peak Production

ConocoPhillips reports that the Jade Field in the U.K. North Sea has hit peak daily production rates. The plateau rate is approximately 20,000 bpd and 210 standard cubic feet of gas per day, higher than earlier estimates of around 16,000 bpd and 200 million standard cubic feet of gas. ConocoPhillips said the fourth and final well of the development would come onstream this week.

"Drilling efficiency has exceeded expectations, achieving best in class performance," said ConocoPhillips UK Upstream Manager Roger Ramshaw. He added that the Jade field was the first high pressure, high temperature field in the North Sea to undertake simultaneous exploration, development drilling and production operations, saying that had "boosted the economic value of the field immensely." The complexity of simultaneous exploration and development helped to delay the start-up of Jade, initially expected late last year, but which did not take place until February this year.

Jade is located in Block 30/2c of the U.K. North Sea and gas is transported via the Judy field and the CATS pipeline to the Teesside terminal, with oil going through the Norpipe system to ConocoPhillips' Teesside Seal Sands terminal. The Jade field has gas reserves totaling some 380 billion cubic feet and about 30 million barrels of crude oil. ConocoPhillips is operator of the field and holds a 32.5 percent interest with BG Group holding 35 percent, ChevronTexaco 19.93 percent, Agip 7.0 percent and OMV 5.57 percent.