Perenco expands gas empire

Offshore staff

LONDON, UK --Perenco is set to take on most of ExxonMobil's production interests in the UK southern North Sea, subject to government approval.

Under the agreement, Perenco will acquire the shares of ExxonMobil subsidiary Superior Oil UK and certain assets owned by Mobil North Sea. This will give Perenco operatorship of the Excalibur, Galahad, Mordred, Guinevere, and Gawain fields, and 11% of the Hewett field and the Hewett reception terminal at Bacton, operated by Tullow Oil.

Assuming the transaction goes through, this will add and average of 95MMcf/d to Perenco's net UK production. The company will manage these interests from its base in Great Yarmouth.

4/19/2007