Enterprise Oil PLC
1 November 2001
Enterprise Oil announces first oil through Italian pipeline
Enterprise Oil has today announced that first oil flowed through the pipeline
linking the Val d'Agri Oil Centre at Viggiano in Italy's Southern Apennines to
the Taranto refinery on 30 October 2001, as part of a six-month commissioning
phase.
The construction of the 20-inch pipeline, which covers 136 kilometres and has
a capacity of 150,000 barrels of oil per day, was completed in early October.
The line is currently carrying crude from the Monte Alpi/Enoc fields in the
Val d'Agri area of the Basilicata region to Taranto and will enable production
to reach around 45,000 bopd by year-end. Once development work is completed on
Cerro Falcone, it is anticipated that 104,000 bopd will flow through the oil
centre in 2003.
Sam Laidlaw, Chief Executive Enterprise Oil, commented: 'This is a milestone
for Enterprise in Italy, where many years' hard work is now coming to
fruition. The Val d'Agri region will provide the group with important revenue
and be a key part of our future production. We will now focus on increasing
output from Monte Alpi, the development of the Cerro Falcone field and moving
Tempa Rossa towards sanction. I am also pleased to be able to report that
after extensive consultation with relevant stakeholders we have conducted all
our activities in compliance with regional environmental requirements in what
is an area of outstanding natural beauty, and that the project has contributed
significantly to the local economy.'
For a map of the region and pipeline route please see the website at
www.entoil.com.
Ends.
For further information please contact:
Patrick d'Ancona, Head of Public Relations +44 (0)20 7925 4160
Notes to Editors
Until August, production from the oil centre was limited to around 9,500 bopd
as output had to be trucked to the refinery. Current production stands at
around 37,000 bopd.
Enterprise's share of output is currently 29 per cent, and it will
independently market its share of crude oil production at the export terminal
in Taranto. Here the company has the capability to either sell to the
neighbouring Agip Petroli refinery or export into the Mediterranean market.
The wells, the oil centre, the pipeline and the storage facilities, have all
been constructed in compliance with strict safety standards and with the aim
of minimising environmental impact. The total investment in the Val d'Agri
project is expected to be approximately 1.6 billion euros.
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