Marathon International Petroleum Ireland Ltd. has entered into an agreement with the Seven Heads group to provide gas processing and transportation and field operating services to the group through Marathon's Kinsale head facilities in the Celtic Sea. As part of the agreement, the Seven Heads group will share operating costs of the facilities. The Seven Heads field, estimated to contain 300 bcf of proven and probable natural gas reserves is 35 km to the southwest of Marathon's Kinsale Head field and processing infrastructure in the Celtic Sea, off the southern coast of Ireland. Under the terms of the agreement, Marathon will provide firm capacity to process and transport 60 MMcf/d of Seven Heads' gas, with ability to increase it up to 100 MMcf/d. Marathon's infrastructure will be used. Marathon's Kinsale Head facilities consist of two production platforms, Alpha and Bravo, 5 km apart and 50 km southeast of Cork. The facilities are capable of processing 220 MMcf/d of wet gas. The wet gas will be increased to 280 MMcf/d. Petrolex Colombia Holdings Ltd. has sold all the shares and other interests in its subsidiaries, which hold a 100% interest in the Rubiales license, to Prime Natural Resources, Inc. The transaction is complete and Petrolex has received a cash payment of $2 million from Prime. The company expects to use the $2 million to repay a portion of the $2.8 million it owes to PXV Holdings Ltd, and will pay $3.2 million to Northern.
