Bridge Energy ASA: Schedule for restart of Tartan platform operations and Duart production
The Tartan and Duart field Operator Talisman is working to restart operations on
the Tartan platform and has advised that production start has been rescheduled
for next weekend (end March).
In accordance with the provisions of the oil sales contract Bridge Energy has
commenced oil sales from Duart field interest in March 2012 with sales volume of
10,000 barrels of oil expected to realise over US$120/bbl. Bridge Energy's crude
oil sales contract is based on earlier production schedules and any physical
shortfall will get rolled forward as adjustments to future months. The current
sale takes advantage of the strong North Sea crude prices during March 2012.
The extended shutdown on Tartan has enabled completion of a comprehensive work
scope which should increase the near term uptime of the facility. The increased
host uptime and a period of flush production following the long shut down is
expected to partly offset the delayed production volumes.
Aberdeen, 28 March 2012
For further information contact:
Jim Brunton, MD, Bridge Energy UK +44 1224 659 120
Eystein Westgaard, CFO +47 9185 0044
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)