United Oil & Gas PLC - Completion of the ASH Gas Pipeline
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
United Oil and Gas plc
("United" or "the Company")
Completion of the ASH Gas Pipeline
· ASH gas pipeline completed on 27th December, contributing an additional 5.45 MMscf/d (1,090 boepd) gross
· Gas recovery rates improved across the Abu Sennan Licence (the "Licence")
· Environmental performance enhanced across the Licence
United Oil & Gas PLC (AIM: "UOG"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, is pleased to announce the completion of the ASH gas pipeline in the Abu Sennan Licence,
The ASH gas pipeline, which links the ASH Field to the existing gas processing facilities at El Salmiya, within the Abu Sennan Licence, was completed safely, on time and under budget in December and was successfully brought onstream on 27th
The delivery of the Ash Gas pipeline has not only increased the environmental efficiency of the Abu Sennan Licence, but has also increased gas recovery rates across the licence.
Further, with the gas pipeline online ahead of the completion of the ASH-3 well, any gas produced from that well can now be monetised more efficiently.
United Chief Executive Officer,
"Since United entered the Abu Sennan licence, the joint venture partners have made excellent progress in increasing production, not just through drilling activity but also through low capital expenditure on infrastructure development. We look forward to further progress in 2021 with the recommencement of drilling activities, starting with the ASH-3 development well."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
boepd - barrels of oil equivalent per day
MMscf/d - million standard cubic feet per day
United Oil & Gas Plc (Company)
Beaumont Cornish Limited (Nominated Adviser)
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+44 (0) 20 7628 3396
Optiva Securities Limited (Joint Broker)
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+44 (0) 20 3137 1902
Cenkos Securities Plc (Joint Broker)
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+44 (0) 20 7397 8900
+44 (0) 131 220 6939
Murray (PR Advisor)
+353 (0) 87 6909735
Camarco (Financial PR/IR)
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+44 (0) 20 3757 4983
Notes to Editors
United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production and development assets across
Led by an experienced management team with a strong track record of growing full cycle businesses and partnered with established industry players, the Company is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.
United Oil & Gas is listed on the AIM market of the London Stock Exchange. For further information on United Oil and Gas please visit https://www.uogplc.com/
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