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2011-11-04 10:26:08 CET 2011-11-04 10:27:09 CET REGULATED INFORMATION Atlantic Petroleum P/F - FyrirtækjafréttirOperations update October 2011Tórshavn, Faroe Islands, 2011-11-04 10:26 CET (GLOBE NEWSWIRE) -- P/F Atlantic Petroleum (OMX: FO-ATLA) today announces that during the month of October, Atlantic Petroleum produced a net total of 39,000 barrels of oil equivalents (boe) from the Chestnut and Ettrick fields. The average daily production was 1,258 boe per day net to the Company. Average daily production for 2011 is expected to be in the range of 2,000 - 2,300 boepd. Production from the Chestnut field is currently shut down due to a five year inspection of the FPSO Sevan Hummingbird. As Chestnut was producing at reduced rates due to water injection constraints this obligatory shut down, which was originally planned for 2012, has been pushed forward to 2011. This will avoid the obligation of this shut down in 2012 when production levels are expected to be fully optimised again. Sixteen of the planned 21 days shut down have been completed during October. The drilling of a sidetrack to the existing water injector well to reinstate water injection and increase production levels commenced in October and is expected to complete in November. In relation to the Blackbird development, trenching and rock dumping activities were carried out during October and the dive support vessel Seven Atlantic continued its subsea work scope. Commissioning checks and readiness reviews are planned for early November prior to production of hydrocarbons from the Blackbird field in late 2011. Further Details: Further details can be obtained from Ben Arabo, CEO, tel +298 350100 (ben.arabo@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo. On the website, it is also possible to sign up for the Company's e-mail newsletter. Announcement no. 43/2011 Issued 04-11-2011 P/F Atlantic Petroleum Gongin 9 P.O. Box 1228 FO-110 Tórshavn Faroe Islands Telephone +298 350 100 Fax +298 350 101 Website: www.petroleum.fo E-mail: petroleum@petroleum.fo |
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