Sterling Issues Mauritania Interim Statement for H2 of 2012

Source: www.gulfoilandgas.com 10/22/2012, Location: Africa

Sterling Energy Plc is issuing its Interim Management Statement for the period beginning 1 July 2012 in Mauritania.

Third quarter 2012 production from the Chinguetti field net to Sterling totalled 52,312 barrels, an average of 569 barrels of oil per day, compared to 622 barrels of oil per day for the same period in 2011. Production in the period was reduced due to a planned maintenance programme for subsea equipment in the field which concluded successfully with production restored to normal levels at the end of the period.

Production is stored on location in the floating production storage and offloading vessel (FPSO) until a suitable volume is accumulated which is then sold and transported away by sea tanker. There were no cargos sold in the period.

There are no approved plans for further development of the Chinguetti field.


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