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."