COP Starts Jasmine Field Production - By Zacks Equity Research
ConocoPhillips (COP) has initiated production of gas from the Jasmine field in the United Kingdom, Central North Sea. With a 36.5% interest, ConocoPhillips is the operator of the Jasmine field while Eni SpA (E) and BG Group hold a 33% and 30.5% stake, respectively. The field was discovered in 2006 and is one of the largest U.K. discoveries in the past 10 years.
The Jasmine facility has a gross capacity of 140,000 barrels of oil equivalent per day (:BOED). It is expected to yield 40,000 BOED in 2014. ConocoPhillips also expects the gas field to contribute significantly to its 3% to 5% production growth rate through 2017.