NOBLE AFFILIATES ANNOUNCES PRODUCTION FROM ALBA FIELD
NOBLE AFFILIATES ANNOUNCES PRODUCTION FROM ALBA FIELD ARDMORE, Okla., Dec. 26 /PRNewswire/ -- Noble Affiliates, Inc.
(NYSE: NBL) today announced that production has commenced from its Alba field, located offshore Equatorial Guinea. Samedan of North Africa, a unit of Noble Affiliates, owns a 40 percent interest in the production sharing contract area until payout, at which time the interest will convert to 30 percent.
The Alba field is situated in 245 feet of water, 18 miles offshore in the Atlantic Ocean. The field is produced from one well completed in approximately 430 feet of gas/condensate pay in multiple sands. The well commenced production at the rate of 20 million cubic feet of gas and 1,200 barrels of condensate per day. Operational plans call for increasing the daily production to approximately 40 million cubic feet of gas and 2,400 barrels of condensate per day. The condensate will be stored on Bioco Island until sufficient quantities are available to transport via tanker to market. Studies are underway for the commercial use of the gas stream. The company presently intends to participate in additional drilling during 1992 on the production sharing contract area, which encompasses 500,000 gross acres. Other parties to this contract include the operator, Walter International; GLOBEX International; General Atlantic Equatorial Guinea, Ltd.; Nomeco Equatorial Guinea Oil and Gas Co.; and MOE Oil and Gas. Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico and offshore California, as well as international operations primarily in Canada, Tunisia and Indonesia. -0- 12/26/91 /CONTACT: William D. Dickson of Noble Affiliates, 405-223-4110/ (NBL) CO: Noble Affiliates Inc. ST: Oklahoma IN: OIL SU: SM -- NY014 -- 5303 12/26/91 12:59 EST
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|Date:||Dec 26, 1991|
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