CNR International Pumps 250 Millionth Barrel

Aberdeen-headquartered CNR International has achieved a milestone in its oil production operations.

The company, which is based in the city's St. Magnus House, has produced its 250 millionth barrel of oil equivalent -- less than seven years after establishing itself in Aberdeen and as an operator in the North Sea.

Operations in CNR International's UK and West African fields have contributed to the landmark figure, namely the Ninian Hub, Murchison, Banff, Kyle, Tiffany, Thelma and Toni fields in the North Sea as well as the Espoir and Baobab fields located offshore Ivory Coast and the recently commissioned Olowi field, offshore Gabon.

CNR International's Vice President and Managing Director, James Edens, said, "Producing our 250 millionth net barrel is a landmark achievement for CNR International and is testament to the rapid rate at which our operations have grown since the company’s acquisition of Ranger Oil in 2000.

"Our strong performance has stemmed from a clearly defined international growth strategy that has been implemented in the North Sea and offshore West Africa. This growth strategy has been underpinned by our desire to operate our assets with a high working interest, giving us control of the execution of our field development and operational plans."

A subsidiary of independent crude oil and natural gas producer Canadian Natural Resources, CNR International set up its offices in the UK in 2000 following the acquisition of Ranger Oil. The company was initially based in Guildford before moving its headquarters to Aberdeen in 2002 after acquiring, and becoming operator of, the Ninian and Murchison assets in the northern region of the North Sea.

James added, "CNR International will continue to develop its core areas in the North Sea, where opportunities for exploitation are plentiful for the foreseeable future. In addition, further growth opportunities will continue to be sought offshore West Africa, which will continue to be a key area of growth for us over the next few years."