Printer Friendly

KERR-MCGEE SIGNS AGREEMENT TO PURCHASE PRODUCTION VESSEL

 KERR-MCGEE SIGNS AGREEMENT TO PURCHASE PRODUCTION VESSEL
 OKLAHOMA CITY, Oct. 8 /PRNewswire/ -- Kerr-McGee Oil (U.K.) PLC, operator for the Gryphon Group, has signed a memorandum of agreement with Ocean Production Inc. to purchase the Tentech 850C ship-shaped floating production vessel nearing completion by Astilleros Espanoles S.A. at El Ferrel in Spain. The price was not disclosed.
 Fitting out of the vessel and engineering design of the process facilities continue, with plans to install the vessel over the Gryphon Field in the North Sea in the third quarter of 1993. First production in the field should begin in the fourth quarter of 1993.
 Planning for production drilling and installation of the subsea systems is moving forward. Discussions with the Department of Trade and Industry for development plan approval (Annex B) are well advanced.
 Kerr-McGee Oil (U.K.) PLC is a wholly owned subsidiary of Kerr-McGee Corp. (NYSE: KMG). Partners in the Gryphon Field are Kerr-McGee, 25 percent; Clyde Expro plc, 25 percent; Clyde Petroleum (North Sea) Ltd., 10 percent; Santa Fe Exploration (U.K.) Ltd., 25 percent; and Aran Energy Exploration Ltd., 15 percent.
 -0- 10/8/92
 /CONTACT: Dow Dozier of Kerr-McGee Corp., 405-270-2877/
 (KMG) CO: Kerr-McGee Oil (U.K.) PLC; Gryphon Group; Ocean Production Inc. ST: Oklahoma IN: OIL SU:


MC -- DV005 -- 7936 10/08/92 14:06 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:222
Previous Article:PROCTER & GAMBLE BRINGS "NEXT GENERATION" OF LAUNDRY DETERGENTS TO THE MARKETPLACE
Next Article:ASSOCIATED HEALTHCARE INDUSTRIES AND CONTOUR FABRICATORS CONTINUE ACQUISITION NEGOTIATIONS; ANNOUNCE ZYGIENE RECORD SALES
Topics:


Related Articles
KERR-McGEE ACQUIRES INTEREST IN SOUTH CHINA SEA PROJECT
POTENTIAL BUYER FOR WYNNEWOOD REFINERY CHANGES
KERR-McGEE ACQUIRES MORE CHINA ACREAGE, ANNOUNCES RESERVE CHANGES AND PRODUCTION PROJECTIONS
Kerr-McGee Acquires Additional China Acreage
Kerr-McGee Signs Yemen Agreements
Kerr-McGee Licenses Syntroleum(R) Gas-to-Liquids Technology
Gulf Sells U.K. North Sea Assets to Kerr-McGee for Cdn$590 Million
Kerr-McGee to Acquire North Sea Operations of Repsol.
Kerr-McGee Granted Early Termination of Hart-Scott-Rodino Waiting Period For HS Resources Acquisition.
Kerr-McGee Establishes Position in South China Sea; New Deepwater License Doubles Acreage in China.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters