LONDON (Thomson Financial) - Venture Production Plc said it has agreed to
acquire Wintershall Noordzee BV's interests in two gas projects in the
Netherlands.
The deal involves offshore blocks A15a and B17a in which Wintershall, BASF's
oil and gas unit, is the operator and the 27 percent and 23.5 percent
shareholder, respectively.
The blocks contain the A15-2 and the B17-5 gas finds. The A15-2 is located
adjacent to the A12, B10 and B13 fields that are currently being developed.
Venture estimates base case gross recoverable resources at the site to be around
65 billion cubic feet.
B17-5, meanwhile, is located 10 km northwest of the Hanze field. Venture
estimates base case gross recoverable resources to be around 35 bcf.
"We aim to bring these discoveries into production over the next three years
and at current forward curve prices for continental gas this makes the
acquisition and development of such assets a highly attractive way to redeploy
some of the substantial operating cashflow we are currently generating," said
Mike Wagstaff, Premier chief executive.
monicca.egoy@thomsonreuters.com
mbe
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