ConocoPhillips announces discovery near Jasmine

ConocoPhillips has made a discovery in a structure adjacent to the Jasmine gas condensate field in the UK Central North Sea.

Offshore staff

ABERDEEN, UK -- ConocoPhillips has made a discovery in a structure adjacent to the Jasmine gas condensate field in the UK Central North Sea. The well, 30/6-7, was drilled using the drilling rig Ensco 102. The Jasmine field development straddles blocks 30/6 (P.011) and 30/7a (P.032) and is west of the Judy production platform.

The exploration well has confirmed the presence of hydrocarbons in a structure northeast of the Jasmine discovery well (30/6-6) which was drilled in 2006. Currently, the well is preparing a flow test. Upon completion of flow testing, two delineation sidetracks are scheduled, the first to appraise the Jasmine field and the other to delineate the new discovery.

The results from the exploration drilling, flow testing, and side-tracking will be used to evaluate potential development concepts. It is anticipated that Jasmine will be a tieback to Judy.

"This discovery is another step towards our strategy of prolonged and efficient production from the North Sea", says Archie Kennedy, MD of ConocoPhillips. "It also clearly demonstrates that new opportunities remain in the UK Continental shelf."

ConocoPhillips Petroleum holds a 36.5% participating interest in the new discovery with Eni UK (33%) and BG Group (30.5%).

02/05/2008

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