Granby/Mosaic to revive Tristan

Offshore staff

(London) Granby Oil and Gas is to acquire a 50% interest in southern North Sea block 49/29b from affiliates of ExxonMobil. The acreage includes the undeveloped 30 bcf Tristan North West accumulation, discovered in 1987, which is situated close to the decommissioned Tristan field, which had been produced via the Welland platform.

The remaining 50% will go to Mosaic Natural Resources, which will arrange much of the funding for a proposed development of Tristan North West in 2007. Granby believes the field could have an economic life of around five years.

08-09-2006