Kistos PLC Resumption of production from Q10-A (6877M)
23 September 2021 - 04:00PM
UK Regulatory
TIDMKIST
RNS Number : 6877M
Kistos PLC
23 September 2021
23(rd) September 2021
Kistos plc
("Kistos" or the "Company")
Resumption of production from Q10-A
Kistos (LSE: KIST), the low carbon intensity energy producer
pursuing a strategy to acquire assets with a role in energy
transition is pleased to announce that, following a planned
four-week maintenance shutdown previously announced by the Company
on 1 September 2021, the TAQA operated P15-D platform has resumed
normal operations. In turn, this has allowed the resumption of gas
export from the Q10-A gas field, which is operated by Kistos with a
60% working interest.
Commenting, Andrew Austin, Kistos' Interim CEO, said:
"I am pleased that TAQA has completed maintenance operations at
P15-D on schedule and that we have been able to restart production
from Q10-A on time. This and our on-going drilling programme, which
includes work designed to enhance output from the Q10-A area, will
allow us to realise enhanced returns from the prevailing gas prices
during the remainder of 2021 and into 2022."
ENDS
Enquiries:
Kistos plc
Andrew Austin c/o Camarco Tel: 020 3757 4983
Panmure Gordon
Nick Lovering / Atholl Tweedie Tel: 020 7886 2500
/ James Sinclair-Ford
Camarco
Billy Clegg / James Crothers Tel: 020 3757 4983
Notes to editors
Kistos plc was established to acquire and manage companies in
the energy sector engaging in the energy transition trend. The
Company has acquired Tulip Oil Netherlands B.V., which has a
portfolio of assets, including profitable, highly cash generative
natural gas production, plus appraisal and exploration
opportunities. The Company has 19.5 mmboe of 2P reserves and an
additional 102.1 mmboe of contingent resources.
Kistos is a low carbon producer. The Q10-A gas field in the
Dutch North Sea (60% operated working interest) has recorded a
Scope 1 carbon emissions intensity of 13g CO(2) e/boe since
inception. This compares to an industry average of 22kg CO(2) /boe
for gas extracted from the UK continental shelf. The Q10-A normally
unmanned installation is located approximately 20 km from the Dutch
shore. It is powered sustainably via wind and solar power and is
remotely operated, limiting offshore visits, which are conducted by
boat.
https://kistosplc.com/
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