Start of Oil Production
February 19 2003 - 9:26AM
UK Regulatory
RNS Number:7089H
Total Fina Elf.
19 February 2003
Iran: Start of production from Balal Field
Paris, February 19, 2003 - TotalFinaElf announces the start-up of oil production
from the Iranian Balal offshore field near Iran's Lavan Island, in the Persian
Gulf. The Group is the operator of the field under a "buy-back" contract
signed with state-owned National Iranian Oil Company (NIOC) in April 1999 and
has a 46.75% interest in partnership with Eni (38.25%) and Bow Valley (15%).
Production started in January at a daily rate of approximately 20,000 barrels
coming from two wells. It is exported from the offshore platform using
facilities operated by the NIOC (subsea pipeline and processing facilities on
Lavan Island).
Presently, three additional producer wells are being drilled. They are expected
to enter production by the end of the first half of 2003.
This information is provided by RNS
The company news service from the London Stock Exchange
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