Offshore staff

STOCKHOLM -- PA Resources' Didon FSO has been connected to the production system and put into operation at the Didon field offshore Tunisia. This gives the company significant increased profitability from the field resulting from lower costs and higher storage capacity as well as increased security of production, PA Resources says.

Oil and gas group PA Resources AB has completed the last step of Phase 2 of the Didon project with the return of its FSO to the field following a refit in the Malta Dry-dock Shipyard. The vessel can now stay on the field until at least the year 2013, PA Resources says.

The company says the switchover of the ships has been a complex operation requiring close proximity of large vessels and some considerable loads and forces. Production has resumed on the FSO, which will ramp up over the next few days to full production.

"We are very pleased to haveDidon FSO back on the Didon field," says Ulrik Jansson, president and CEO of PA Resources. "It gives PA Resources significant benefits, such as a higher storage capacity, a considerably reduced amount of marine offloading operations, an increased security of production, and an increased profitability from the field due to lower costs. Now, we can focus on extending the production plateau of the Didon field with the development drilling campaign commencing in January."

With the installation of the FSO, PA Resources has terminated contracts for the MVMelide FSO and the Stena Provence tanker.

10/4/2007