Huntington at Reduced Rates, Full Production Further Delayed

Norwegian Energy Company ASA (Noreco) has been informed that a temporary approval has been granted to resume production at reduced rate at the Huntington field, and that the field is now on stream.

Until normal access to the CATS system has been restored, Noreco expects that daily production from Huntington will not exceed 1 500 boepd net to Noreco.

The CATS operator has not given any firm date for restart of normal operation of the CATS Systems, but indications are that it could be delayed to the end of January, possibly even longer.

“It is difficult at this stage to guide on the exact cash flow implications for Noreco,” the company said.

It should be expected that the reduced production in the beginning of 2015 will be partly compensated by flush production when the field is back to normal.