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Northern Petroleum Plc

Northern Petroleum Plc is an EU oil company that acquires low entry cost exploration, production and development assets and is committed to adding high value to shareholders from production and asset sales.

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Annual Report and Accounts 2000

Northern Petroleum Plc is an oil and gas exploration and production Company which has refocused on Western Europe.

In the light of improved oil prices the Company will apply new ideas as well as newer drilling and completion technologies where it is believed possible to establish economic oil production from known oil discoveries.

The Company is building a position in the deregulated gas markets of the European Union.

The Company continues to progress its past investments in Northern Russia and to seek value to shareholders for them.

Highlights

  • A 4.0% interest in the Seven Heads gas field and a 6.4% interest in the Galley Head gas field offshore southern Ireland has been acquired. They are reported to contain one half-trillion cubic feet of gas in place and a fast-track development is anticipated.
  • A stake has been obtained in a significant Danish gas play, estimated by some to hold up to three trillion cubic feet of gas.
  • In England and Spain specialised modern drilling and engineering techniques will be used for bringing old discoveries into economic production.
  • Two licence applications have been made for gas plays in Italy’s Po Valley.
  • The original 1995–7 investment in the Tedin oil field in Russia is now being accessed by a pipeline.

You can download a copy of the Annual Report in Adobe Acrobat PDF format by clicking the link below.

Download the Annual Report and Accounts 2000 (277kB)

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