Kistos resumes output at Dutch field
London-listed Kistos has resumed gas exports from the Q10-A gas field in the Dutch North Sea, the company said on September 23, following the end of four weeks of maintenance at the TAQA-operated P15-D platform that handles its supplies.
Kistos acquired a 60% operating interest in Q10-A along with several undeveloped discoveries from Tulip Oil in May in a deal worth at least $263mn. It launched a drilling campaign at the site in July, with the aim of converting around 100mn barrels of oil equivalent of best-estimate contingent resources into proven and probable reserves.
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Kistos' interim CEO Andrew Austin noted that the resumption of flow at Q10-A as well as the drilling campaign would allow the company "to realise enhanced returns from the prevailing gas prices during the remainder of 2021 and into 2022."
Gas prices in Europe are at a record high, as a result of a fast-paced recovery in demand from last year and constraints in supply.