North Sea, Côte d’Ivoire provide production boost for Canadian Natural

Canadian Natural’s production outside North America averaged 36,224 b/d during 1Q 2015, up 7% from 4Q 2014.

Offshore staff

CALGARY, Canada – Canadian Natural’s production outside North America averaged 36,224 b/d during 1Q 2015, up 7% from 4Q 2014.

This was mainly due to the reinstatement of theBanff/Kyle FPSO in the UK North Sea last July and increased output from the Baobab field off Côte d’Ivoire following downtime in early 2014.

The increase also reflects higher production at theEspoir field off Côte d’Ivoire and the return to production on the Tiffany platform in the UK northern North Sea, which experienced unplanned downtime late last year.

Canadian Natural has contracted a drilling rig to undertake a 10-well infill development program at Espoir, designed to add 5,900 boe/d of net production.

During 1Q 2015, the first oil well was brought onstream and is currently producing at a net rate of around 3,000 b/d. Last month the second well began producing at 2,100 b/d net. In both cases, output is above expectations.

Additionally, the company has contracted a rig for a six-well infill drilling program targeting a further 11,000 boe/d of net production at Baobab. First oil should follow in June.

During 2Q 2014, an exploratory well on Côte d’Ivoire offshore block CI-514 (Canadian Natural 36%) demonstrated the presence of a working petroleum system.

A follow-up well was drilled this April to evaluate the up-dip potential of the initial well. It has since been P&A’d.

05/11/2015

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