Repsol Sinopec Resources UK

Repsol Sinopec Resources UK said that first oil has flowed from the Shaw field, which is part of the company-operated Montrose Area Redevelopment (MAR) project in the United Kingdom Central North Sea. The Shaw, Cayley, and Godwin fields are being brought on line as new fields in the project, which is also extending the lives of six existing fields. First output from Cayley was expected at the end of the second quarter, with gross incremental production estimated to peak at up to 40,000 BOE/D. The MAR project is intended to unlock up to 100 million BOE of additional reserves. The project interest holders are Repsol Sinopec (58.97%) and Marubeni Oil & Gas (41.03%). Repsol Sinopec is a joint venture of Repsol and Addax Petroleum UK, a subsidiary of Sinopec.


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