FRANKFURT, April 15 (Reuters) - E.ON has started production from the Huntington oil and gas field in the North Sea, the company said in a weekend statement.
Huntington is located on the UK Continental Shelf, 230 kilometres east of the British coast. The development includes a 12 km gas export pipeline connected to the BP CATS transport system, allowing export of gas to the UK.
The field has 27 million barrels oil equivalent (mboe) in gross reserves, according to an estimate published in a statement by E.ON subsidiary E.ON Exploration and Production (E&P).
“Huntington will contribute significantly to the company’s near-term production growth and implementation of our business strategy,” said Frank Sivertsen, chief executive of E.ON E&P.
Total project investments exceed 496 million euros ($649.64 million), E.ON said.
E.ON is the operator, owning a 25 percent interest in the licence. The other partners are Premier Oil (40 percent), Noreco (20 percent) and Iona Energy (15 percent).