Newspaper article THE JOURNAL RECORD

Phillips Plans for $120 Million Project/united Kingdom Unit to Develop Audrey Gas Field in North Sea

Newspaper article THE JOURNAL RECORD

Phillips Plans for $120 Million Project/united Kingdom Unit to Develop Audrey Gas Field in North Sea

Article excerpt

BARTLESVILLE - Consent for the $120 million development of the Audrey Gas Field in the North Sea has been granted to a group led by a Phillips Petroleum Co. unit, it was announced Wednesday.

The consent was granted by the United Kingdom Department of Energy to Phillips Petroleum Co. United Kingdom Ltd., which will be the operator of the project.

The development project will supply British Gas with natural gas beginning in October 1988, reaching a maximum of 450 million cubic feet per day.

The Audrey Gas Field is in the Southern Basin of the United Kingdom sector of the North Sea. It is 75 milles offshore the Lincolnshire Coast, eight miles west of the currently producing Viking Gas Field.

The Audrey Field was discovered by the Phillips Petroleum Group in its Block 49/11A in 1976 and subsequently was proved to extend into the neighboring Block 4B/15A licensed to Conoco (U.K.) Ltd. and Britoil.

The Audrey Field will be unitized to ensure the efficient recovery of all the reserves, according to a prepared statement by Bartlesville-based Phillips. Unitization of the field, which has estimated recoverable reserves in excess of 1 trillion cubic feet, will provide the group with an initial equity of 65 percent and Conoco/Britoil with 35 percent.

Phillips Petroleum Co. United Kingdom Ltd. is the designated operator of the field under the terms of the unitization and unit operating agreement.

The Phillips group signed a contract with British Gas for sale of its share of Audrey gas in September 1983. Conoco and Britoil recently concluded a sales agreement with British Gas for their share of Audrey production, according to Phillips.

Initially, the Audrey Field will be developed with a single, four-legged steel platform having slots for 10 wells and located in block 49/11A, Phillips said. …

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