Cirrus updates North Sea development activities

Cirrus Energy Nederland has provided an update on its ongoing development activities:

Offshore staff

LONDON -- Cirrus Energy Nederland has provided an update on its ongoing development activities:

M7-A Project (Cirrus 42.75%, operator)
A turnkey lump sum contract has been awarded to Seaway Heavy Lifting for the use of the heavy-lift vessel Stanislav Yudin to install the M7-A platform in June. Once the platform is installed, the jackup Noble Lynda Bossler will drill the M7-A01 development well, which has an expected duration of 53 days. Tie-in activities at NAM's L9-FF platform, where gas from the M7-A field will be processed, are almost complete. First gas from M7-A is expected towards the end of the year.

L8-D Project (Cirrus 25.5%, operator)
The L8-D field partners have agreed to pursue a first phase of development which will initially involve acquisition of the L11b license, the L11b-A production platform, and the tie-in of the L11-13. Agreement for acquisition is currently being finalized and is expected to be completed in the coming months. Operatorship will be transferred concurrently with the acquisition. Once this process is completed, the L11b-A06 well will be tied-in and put into production.

TAQA Energy will assume responsibility for production operations at the L11b-A platform.

A second appraisal/development well is planned to be drilled into the L8-D field from the L11b-A platform in the second half of the year. If successful, the well will be completed for production (and named L11b-A07). Combined initial production capacity from the A06 and A07 wells is expected to be adequate to meet the L11b-A platform design production capacity of 1.2 million cm/d (45 MMcf/d).

M1-A Project (Cirrus 47.5%, operator)
Work has continued on fabrication of the subsea tree, control, and high pressure protection systems which are currently 90% completed. Offshore installation of the subsea equipment and recompletion, and stimulation of the M1-3 well awaits reaching agreement on commercial terms for accessing the existing export pipeline infrastructure.

04/29/2009

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