Azurite shutdown imminent offshore Congo

PA Resources (PAR) says abandonment of the Murphy Oil-operated Azurite field offshore Republic of Congo is expected to start before the end of the year.

Offshore staff

STOCKHOLM, Sweden – PA Resources (PAR) says abandonment of the Murphy Oil-operated Azurite field offshore Republic of Congo is expected to start before the end of the year.

The company expects the planned final crude oil lifting to substantially cover its share of the abandonment cash cost.

Murphy has given notice of termination to the owner of theAzurite FDPSO vessel, effective April 30, 2014.

Also off Republic of Congo, PA Resources is finalizing an agreement to divest a majority stake and operatorship in theMer Profonde Sud exploration area. The third and final renewal period is due to start next month, and will incur a one-well commitment.

10/23/2013

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