Temporarily reduced export capacity through the SEGAL system - OKEA

Temporarily reduced export capacity through the SEGAL system

Temporarily reduced export capacity through the SEGAL system

Published:
05.09.2019

OKEA ASA has been notified by Shell U.K. Limited, the operator of SEGAL, that due to an unexpected shut-down of the Fife Ethylene Plant (FEP) at Mossmorran, the Shell Esso Gas and Associated Liquids (SEGAL) pipeline system will have reduced capacity. This will likely defer some of the export of gas from the Gjøa field, where OKEA holds a 12 percent working interest.

OKEA ASA is working together with the Gjøa operator Neptune Energy Norge AS to assess and minimize the impact of the reduced export capacity. Current best assessment is that approximately one third of hydrocarbon export from Gjøa will be affected. How much OKEA will be impacted, depends on several factors, including the export capacity OKEA is able to secure in the system.

Shell U.K. Limited has informed that SEGAL will return to full capacity by early December.

OKEA has a business interruption insurance that will come into effect after a 45 days indemnity period.  The company has notified the insurance broker and will work to recover the loss in accordance with the terms of the insurance policy.

Contact persons:

Tor Bjerkestrand, SVP Operations, +47 90925243

Espen Myhra, VP Commercial, +47 92642701

Ståle Myhre, VP Investor Relation and Communication, +47 91751878