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New Name for DNO FiledsDNO reports that the West Heather and North Terrace oil accumulations in the North Sea, located some 8 km west of the Heather platform, are to be defined as a single Field. The field will be known as the Broom Field in keeping with the practice established for the DNO Operated Thistle and Heather Fields of naming them after Scottish wild flowers. In addition there is a geological connection in the name in that the lower part of the reservoir section of the field is in the Broom Formation of the Middle Jurassic Brent Group. As a result of bringing the Broom Field on stream there is the potential for around 30 million additional barrels to be recovered from the Brent and Triassic reservoirs of the Heather Field, in which DNO has 100%. The total recoverable proven and probable reserves from the Heather and Broom Fields is now estimated to be some 74 million barrels with the Heather Alpha platform continuing in service until 2014. These reserves have been confirmed in an independent engineering report and are some nine million barrels more than previously reported. DNO's share of the Heather and Broom reserves is 54 million barrels. The current development plan for the Heather and Broom fields has a breakeven oil price of around 12 USD/bbl. |