Seven Heads gas field onstream

Gas production has begun at an initial rate of 60 MMcf/d from five producing wells at the Seven Heads gas development in the Celtic Sea. Ramco Energy operates Seven Heads for a group.

Gas production has begun at an initial rate of 60 MMcf/d from five producing wells at the Seven Heads gas development in the Celtic Sea. Ramco Energy operates Seven Heads for a group. The field is adjacent to Ireland's largest producing gas field, the Marathon-operated Kinsale field, which enabled Ramco to develop Seven Heads on a fast-track basis via a subsea pipeline tied back to the Kinsale facilities. The Seven Heads development achieved production in nine months from approval.

The Seven Heads field will contribute 10-15% of the Irish demand for gas in 2004, displacing imports from the UK. Ramco has agreed to sell its share of the field's gas production to Innogy Ireland Ltd.

Ramco has acquired interests in several other blocks in the Celtic Sea and is planning seismic work for 2004 to assess the potential for the future development of satellite structures, capable of being tied back to the existing infrastructure.

Ramco also has won licensing option 03/10, East Kinsale, in the Celtic Sea.

The Seven Heads partners are Ramco 86.5%, Island Petroleum Developments Ltd., a subsidiary of DNO ASA, 12.5%, and Sunningdale Oils Ltd. 1%.

12/15/03

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