This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161107005181/en/
(Photo: Business Wire)
"First gas at Alder represents a significant milestone for
Alder is a single subsea well tied back, via a 28 kilometer pipeline, to
the existing
More than 70 percent of the Alder development work was executed by
Discovered in 1975, the development has been enabled through the
application of innovative subsea technologies designed to meet the
temperature and pressure challenges of Alder. Key technologies have
included a number of firsts for
Chevron Upstream Europe (CUE) is a strategic business unit of Chevron’s
In the
Notes to editors:
- The Alder Field was discovered in 1975.
-
Alder is a high-pressure; high-temperature (HPHT) gas condensate field
located around 100 miles (160 km) from the Scottish coastline in the
Central North Sea , in water depths of approximately 492 feet (150 m). - Alder is a single subsea well tied back to the existing Britannia Bridge Linked Platform (BLP) via a 17.4 mile (28 km) production flowline.
-
Alder produced fluids are processed at a dedicated module attached to
the Britannia BLP. Alder condensate will be exported via the Forties
Pipeline System to Grangemouth terminal and gas exported to the
Scottish Area Gas Evacuation terminal at St Fergus, near Peterhead,
Scotland . - The project has a design capacity of 14,000 barrels of condensate and 110 million cubic feet of natural gas per day.
-
Alder brings a new stream of production to
Chevron and theU.K. while helping to extend the field life of Britannia. -
More
than 70 percent of Alder’s key contracts were placed with
U.K. companies. - Technology and innovation have been key to unlocking the potential of the Alder Field.
-
Alder is operated by
Chevron North Sea Limited (73.7 percent);ConocoPhillips (U.K.) Limited holds a 26.3 percent interest in the field.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements relating to
Chevron’s operations that are based on management’s current
expectations, estimates and projections about the petroleum, chemicals
and other energy-related industries. Words or phrases such as
“anticipates,” “expects,”“intends,” “plans,” “targets,” “forecasts,”
“projects,” “believes,” “seeks,” “schedules,” “estimates,” “may,”
“could,” “should,” “budgets,” “outlook,” “on schedule,” “on track” and
similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties and other factors, many
of which are beyond the company’s control and are difficult to predict.
Therefore, actual outcomes and results may differ materially from what
is expressed or forecasted in such forward-looking statements. The
reader should not place undue reliance on these forward-looking
statements, which speak only as of the date of this report. Unless
legally required,
Among the important factors that could cause actual results to differ
materially from those in the forward-looking statements are: changing
crude oil and natural gas prices; changing refining, marketing and
chemicals margins; the company's ability to realize anticipated cost
savings and expenditure reductions; actions of competitors or
regulators; timing of exploration expenses; timing of crude oil
liftings; the competitiveness of alternate-energy sources or product
substitutes; technological developments; the results of operations and
financial condition of the company's suppliers, vendors, partners and
equity affiliates, particularly during extended periods of low prices
for crude oil and natural gas; the inability or failure of the company’s
joint-venture partners to fund their share of operations and development
activities; the potential failure to achieve expected net production
from existing and future crude oil and natural gas development projects;
potential delays in the development, construction or start-up of planned
projects; the potential disruption or interruption of the company’s
operations due to war, accidents, political events, civil unrest, severe
weather, cyber threats and terrorist acts, crude oil production quotas
or other actions that might be imposed by the
View source version on businesswire.com: http://www.businesswire.com/news/home/20161107005181/en/
Source:
Chevron
Sam Howard, +44 1224 334056 (Aberdeen)
Sam.Howard@chevron.com
or
Sally
Jones, +44 560 109 1435 (London)
JonesS@chevron.com