Offshore staff

CALGARY, Canada --Canadian Natural Resources expects its UK North Sea crude production to dip from 54,000b/d to 44,000b/d next year, as a result of reduced activity and major turnaround schemes.

However, the company's West African crude output should rise from 24,000b/d to 32,000b/d, before royalties.

During 2008, Canadian Natural has budgeted around $235 million to complete its Olowi project offshore Gabon, and is targeting first oil in the fourth quarter.

The company also anticipates spending around $150 million on its Baobab field development off Cote d'Ivoire, re-completing wells experiencing sanding problems. It hopes to have two wells back in production by the end of 2008.

11/27/2007