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Canada : SBM Offshore enters into PACT with Encana Corp.

Canadian natural gas producer, Encana Corp. has signed an agreement with SBM Offshore, which is a marine service provider. Under the contract, SBM Offshore will operate the Deep Panuke platform for Encana. The platform is situated in the Deep Panuke natural gas field, offshore Nova Scotia, Canada. The field includes four operating wells.

Encana says that the platform was constructed for producing nearly 300.0 million cubic feet of natural gas from the wells every day. The natural gas produced from the Deep Panuke development will likely be sold to Spanish oil and gas company, Repsol SA.

Encana is a focused pure-play natural gas exploration and production (E&P) company. It is the second largest gas producer in North America. It has a highly competitive land and resource position in many promising shale and tight gas resource plays. Encana s extensive natural gas exposure raises its sensitivity to gas price fluctuations in comparison to its more diversified independent peers with higher oil production.

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Publication:Mena Report
Date:Dec 19, 2013
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