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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Salamander | LSE:SMDR | London | Ordinary Share | GB00B1GC5238 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 79.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSMDR
RNS Number : 4336P
Salamander Energy PLC
19 August 2014
19 August 2014
Salamander Energy plc
("Salamander" or the "Company")
First Oil in Tanks of FSO at Bualuang Field
Salamander announces that first oil has been received in the tanks of the newly converted Suksan Salamander Floating Storage and Offtake Vessel ("FSO") at the Bualuang field in the Gulf of Thailand. This is the culmination of the planned upgrade to the field's facilities which targets a reduction in operating costs of up to $25 million per annum.
New power and processing modules were loaded out to the Bravo platform in the first half of the year. These have been operating smoothly since hook up and commissioning in May. The FSO arrived on location in July. Following hook up and commissioning the new FSO is now fully operational. As well as halving the day rate of the production vessel, these upgrades double water handling capacity, increase potential production rates and extend the productive life of the field.
The Rubicon Vantage Floating Production, Storage and Offtake vessel will depart the field in the coming weeks.
Salamander Chief Executive James Menzies commented: "We have upgraded production infrastructure in the Bualuang field on both time and budget. The new facilities enhance the value of the field, minimise the risk of future downtime and mean we are well positioned for the next phase in the field's growth."
Enquiries:
Salamander Energy + 44 (0)20 7432 2680
James Menzies, Chief Executive Officer
Geoff Callow, Head of Corporate Affairs
Brunswick Group +44 (0)20 7404 5959
Patrick Handley
Elizabeth Adams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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