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JX NOEX Field Development Plan approved for Mariner in UK North Sea.

Tokyo, Feb 18, 2013 - (JCN) - JX Nippon Exploration and Production (U.K.) Limited (JX NEPUK), a wholly owned subsidiary JX Nippon Oil and Gas Exploration (JX NOEX), has now received approval from the UK authority (DECC) for a Field Development Plan (FDP) for the Mariner Field.

The field is located in Block 9/11a in the UK North Sea, about 150km east of Shetlands, and is one of the largest undeveloped oil fields in the UK North Sea.

It is estimated that the recoverable reserve exceeds 250 million barrels and that the average daily oil production rate will be around 55,000 barrels during the initial four years. The expected field life is about 30 years from 2017.

The development plan for the Mariner Field requires the construction of a production, drilling and quarters platform (PDQ) together with a floating storage and offloading system (FSU), and requires the drilling of a significant number of production wells after startup in 2017 to optimise production.

The total investment in the Mariner Field, including all the drilling, is estimated to be more than 7 billion US dollars.

The Mariner Field is a major JX NOEX asset in the UK, and the company expects that it will contribute to the achievement of its long term daily production goal of 200,000 barrels of oil equivalent by 2020.

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Publication:JCNN News Summaries
Geographic Code:0NORT
Date:Feb 19, 2013
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