09 September 2005
RWE Dea UK boosts production as Saturn field comes
on stream
London, 9 September 2005 – RWE Dea UK is pleased to announce that first
gas has been delivered from the Saturn field in the
North Sea.
The Saturn field is key to boosting the level of RWE Dea's current UK production, with expected initial production rates from the first well of 75 million standard cubic feet of gas per day (MMscf/d). RWE's share of this will be some 26 MMscf/d which currently represents ca. 65% of its total UK production capacity. The maximum production rate from Saturn of 170 MMscf/d is expected to be achieved in 2006 from a total of three wells.
The field is loated in UKCS Blocks 48/10a and 48/10b and is operated by ConocoPhillips. RWE Dea UK has a 35.1% interest in the development.
Christoph Schlichter, Managing Director of RWE Dea UK, commented: 'We are delighted that we have first gas from Saturn field earlier than initially expected. This is a very important milestone in the execution of our UK strategy. This significant increase in our UK production is an important step in helping to grow our UK business.'
Contacts:
RWE Dea UK
Christoph Schlichter, Managing Director
Tel: +44 (0) 20 7421 5520
RWE Dea AG
Harald Graeser, Head of Corporate Communications
Tel. + 49 (0) 40 6375 2511
Aquila Financial
Peter Reilly
Tel: +44 (0) 20 7849 3319
Notes to Editors
The Saturn field is comprised of four structures, Atlas, Hyperion, Rhea, and Annabel.
ConocoPhillips operates the development of the Atlas, Hyperion, and Rhea structures and Venture Production plc operates the development of the Annabel structure.
A unitisation Heads of Agreement for Saturn (Atlas, Hyperion, and Rhea) was completed in June 2004 leading to joint venture partners now holding the following interests on the field:
ConocoPhillips (operator) 42.9%
RWE Dea UK 35.1%
Venture Production plc 22%
Blocks 48/10a and 48/10b are located approximately 60 miles from the Norfolk coastline and 18 km to the north of the Audrey field, 12 km west of the Ann field, and 37 km north of the Lincolnshire Offshore Gas Gathering Station (LOGGS).
The field will developed through the drilling of 3 wells from a platform, with production to be exported via a 14 inch export pipeline via LOGGS to the Theddlethorpe Gas Terminal (TGT).
Hyperion was discovered and appraised in 1986, 1987, and 1990 by Conoco with the 48/10b-2, 48/10b-3, and 48/10b-8 wells. In 1991, BP drilled the 48/10b-10 Atlas discovery well.
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