| Thu 13 Feb 2003, 9:34 | | Energy Africa - Press Release |
|
Energy Africa - Press Release
ENERGY AFRICA
Registration number : 1995/007140/06
(Incorporated in the Republic of South Africa)
JSE code: ENR ISIN code: ZAE000010427
ENERGY AFRICA : FIRST OIL FROM CALEDONIA FIELD
Energy Africa Limited is a South African-based oil and gas exploration and
production group which is listed on the Johannesburg and Luxembourg Stock
Exchanges.
Energy Africa is pleased to announce that oil production has commenced from the
Caledonia Field in the United Kingdom North Sea in which the company holds a
10.06% interest.
Rhidwaan Gasant, Energy Africa`s Managing Director said "the Caledonia Field is
the fourth new development brought onstream in the past six months, following
the Niungo and Etame Fields in Gabon and Alba Extreme South in the North Sea.
It is expected to contribute some 1000 barrels oil per day to Energy Africa`s
production over the next twelve months."
A copy of a press release made by the Operator, Chevron Texaco is attached.
13 February 2003
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
Energy Africa Ltd Adrian Nel +27 21 4007600
+27 82 806 8118
College Hill Nicholas Williams +27 11 447 3030
News from ChevronTexaco
First Oil Achieved From Caledonia Field
ABERDEEN, UK, 10 February 2003 - ChevronTexaco Upstream Europe, as operator,
today announced first oil from the Caledonia field, located in block 16/26,
approximately 130 miles north east of Aberdeen. Production from the well is
expected to average 10,000 barrels per day over the first year with peak
production of approximately 13,000 barrels per day achieved soon after start up.
Further development of the field will depend on the future performance of this
well.
The field has been developed by means of a subsea template with a single
production well tied back to the Britannia platform via a 3.5-mile (5.6-
kilometre), 8-inch pipeline. Caledonia partners have invested 36.6 million in
the project ($60.3 million U.S.).
The well was drilled in the summer of 2002 by the semi-submersible drilling rig,
Stena Spey, with subsea facilities installed during the same period.
Modifications were made to the Britannia platform to allow Caledonia oil to be
processed and exported via the Forties Pipeline System. A strong focus on safety
from all companies involved resulted in an excellent project safety record.
Chuck Taylor, UK general manager for ChevronTexaco said, "I am pleased that
Caledonia, the first satellite field to be processed through the Britannia
platform, has commenced production and extend my congratulations to all those
involved in the project. Tie-ing this well back to Britannia is an excellent
example of utilisation of existing infrastructure."
- ends -
Contact: Ruth Mitchell - Tel: 01224 334214
Notes to Editors:
The Caledonia Partners are:
Chevron U.K. Limited (a ChevronTexaco company) 27.36 %
Dana Petroleum (North Sea) Limited 25.78 %
Statoil (U.K.) Limited 21.32 %
Fina Petroleum Development Limited (a TotalFinaElf company) 12.65 %
Unilon Oil Explorations Limited (an Energy Africa company) 8.55 %
Enterprise Oil U.K. Limited (a Shell company) 2.83 %
Baytrust Oil Explorations Limited (an Energy Africa company)1.51 %
Cautionary Statement Relevant to Forward-Looking Information for the Purpose of
"Safe Harbor" Provisions of the Private Securities Litigation Reform Act of
1995.
This news release contains forward-looking statements about the expected
production from a well in the Caledonia field and the future development of this
field. The statements are based on management`s current expectations, estimates
and projections; is not a guarantee of future performance; and is subject to
certain risks, uncertainties and other factors, some of which are beyond our
control and are difficult to predict. Among the factors that could cause actual
results to differ materially are the actual production performance of the well
and general economic conditions. You should not place undue reliance on this
forward-looking statement, which speak only as of the date of this press
release. Unless legally required, ChevronTexaco undertakes no obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
Date: 13/02/2003 08:16:04 AM Produced by the JSE SENS Department
