Upstream energy group Parkmead is set to temporarily shut down its newest discovery in the Netherlands to accommodate higher gas flows than previously anticipated.
Having delivered first gas earlier this month, flow rates of condenstate at the Aberdeen-headquartered company's LDS-01 well are "significantly higher" than expected at 40 million cubic metres per day. Dry gas production rates were also described as "excellent".
In an update to shareholders issued yesterday, Parkmead said LDS-01 has now been shut to accommodate increased fluid production levels at the accompanying Garijp terminal. The well will be brought back onstream once an optimal operating regime has been identified, which is expected to be in late May.
Executive chairman Tom Cross said the Netherlands portfolio "continues to generate a large number of value-adding opportunities across all stages of the life cycle".
"Parkmead has worked closely with its joint-venture partners on the fast-track development of the LDS-01 gas discovery," he added. "The initial performance and recent reservoir modelling of the well are very encouraging, and we are achieving higher than expected flow rates of both dry gas and gas condensate."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here