BG sees Jasmine North Sea field starting in Q4
BY CASSIE WERBER
LONDON -- North Sea field will open in Q4 2013, according to the results statement released by BG Group, helping to drive up production for the company towards the end of the year. The Jasmine field, from which natural gas and condensate are to be extracted at an expected rate of 80,000 boepd, was discovered in 2010. It was originally planned to be operation in 2012 but its opening was deferred. It will be operated by ConocoPhillips with Eni and BG each having around a third share.
BG said that its total y-o-y production was expected to be slightly down in the first half and lower again in Q3, due to routine maintenance. It would then grow "strongly" in Q4, with one of the main drivers being the opening of Jasmine. BG cited further growth drivers as the expansion of two floating facilities off Brazil, and the development of a field in Bolivia. The report noted, however, that the "timing for Elgin-Franklin resuming production remains a key uncertainty." The Elgin gas field has been closed since March 2012 following a leak, putting a drag on the sector's productivity.
Dow Jones Newswires