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GDF Suez lauds North Sea oil, gas gains

North Sea gives solid footing for GDF Suez.
By Daniel J. Graeber   |   April 10, 2014 at 9:12 AM   |   Comments

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PARIS, April 10 (UPI) -- Developments in the British and Dutch waters of the North Sea are essential for production gains for GDF Suez, its executive vice president said.

The French energy company said it successfully launched three new oil and natural gas fields -- Orca, Amstel and Juliet -- in British and Dutch waters in recent months.

Jean-Marie Dauger, executive vice president of GDF Suez, said the developments have led to a significant increase in the company's production portfolio.

"Through these investments, the group demonstrates an ability to deliver successful exploration and production projects in the North Sea, which is essential for further development in growth areas," he said in a statement Wednesday.

Combined with Norwegian assets expected online later this year, the French company said the North Sea projects should add another 46 million barrels of oil equivalent to its portfolio this year.

Orca, which straddles the British and Dutch maritime borders, should reach a production plateau of 7,000 barrels of oil equivalent per day for GDF Suez this year.

Amstel, off the Dutch coast, is expected to produce at a plateau of 15,000 barrels of oil per day.

Juliet, located off the British coast, is producing at its peak of approximately 14,000 barrels of oil equivalent per day

In 2013, GDF Suez said it produced 799 million barrels of oil equivalent in total.

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Topics: GDF Suez
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