Offshore staff

PARIS, France-- Perenco acquired 50% interest in the Offshore North Sinai Concession (ONS) in Egypt through the purchase of Burlington Resources Egypt Ltd. from ConocoPhillips. Perenco owned 50% and is operator of ONS, so this brings its holding to 100%.

ONS has three gas fields with proved reserves of 500 bcf. A project is under way to develop the Tao field. The development includes the installation of a production platform, a 60-km (37-mi), 20-in (208-mm) pipeline to shore, and an onshore processing plant.

The platform jacket and pipeline already are installed and the topsides module was loaded out on April 3, 2007. Four development wells are scheduled and first gas is expected to be produced in 4Q 2007 at rates up to 180 MMcf/d.

4/5/07