Tullow sees UK output dip
Tullow Oil said today that it produced an average 23,580 boe/d in the first half of 2008 from its UK assets, 13% less than in the same period in 2007.
Tullow said the decline was primarily a result of natural decline in mature fields exacerbated by poor weather in the first quarter which hampered intervention visits.
However, the company said current reservoir performance of the fields in both the Thames-Hewett Area and the CMS assets was generally in line with expectations and that average production from the UK in 2008 is expected to be in the range 22,000 to 24,000 boe/d.
Meanwhile, in the Thames-Hewett area, the development of the Tullow-operated Wissey discovery (Tullow 62.5%) in Block 53/4d is ongoing. The well has been drilled and completed and the facilities tie-in is underway with first gas forecast for August at an initial rate of 75 Mmcf/d.
The Thames co-venturers have also approved the drilling of a development well in the Bure field to accelerate production and are currently sourcing a rig for early 2009.
Tullow added in a statement: “The Hewett complex has now been fully de-manned yielding considerable cost savings. The appraisal-development well targeting a deep Rotliegendes reservoir in the Hewett main field is scheduled for August 2008. However, as part of Tullow’s ongoing portfolio rationalisation, the group announced the proposed sale of its entire 51.68% interest in the Hewett-Bacton development to Eni for a consideration of £210 million. The sale is expected to be completed by the end of the year.”