Official

In the official launch of the $3 billion Sable Offshore EnergyProject (SOEP) in Halifax earlier this week, project owners raisedexpectations for gas reserves and production. “Our ongoingtechnical studies and interpretation of the 3-D seismic informationgathered in 1996 and 1997 show that the potential exists for morethan the 3.1 Tcf we estimated as the basis for our development planapplication,” said Mobil Oil Canada President Jerry Anderson. “Thegood news is that we might expect to recover more than 3.5 Tcf.This larger potential resource base will enable us to increaseinitial production rates to more than 500 MMcf/d, depending on suchfactors as markets, well performance and operating efficiency.” Theowners originally expected 460 MMcf/d. The additional production,however, will be within the facilities design capacity of 554MMcf/d, they said.