Endeavour inks Rochelle processing, transportation agreement - contract awards imminent

Source: Endeavour International

Endeavour International Corporation (NYSE:END) (LSE:ENDV) announced agreement of commercial terms for the processing and transportation of East Rochelle production on the Scott Platform, in the Central North Sea. Endeavour, operator of the East Rochelle, plans to award contracts and commence construction of the production facilities immediately. 

"This represents an important milestone in the development of the East Rochelle field," said William L. Transier, chairman, chief executive officer and president. "Endeavour can now move forward expeditiously to achieve first production in 2012. This off-take solution is expected to incorporate the production at West Rochelle, the second phase of the development of the Greater Rochelle area, which will be on a simultaneous track with East Rochelle." 

The Field Development Plan for East Rochelle was approved by the Department of Energy and Climate Change in February 2011. The plan calls for the subsea development to be linked by a 30- kilometer pipeline to production facilities on the Scott platform. First production from East Rochelle is planned for the second half of 2012. 

Endeavour holds a 55.6 percent working interest in the East Rochelle development and Nexen Petroleum UK Limited holds the remaining 44.4 percent interest.

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