Petrofina to participate in Alaskan Badami-field

Mar 13, 1997 01:00 AM

Belgium's Petrofina has announced it is due to participate in the development of the Badami oilfield, located some 56 km east of Prudhoe Bay in Alaska.Badami contains an estimated 120 mmb of recoverable oil. First oil production is planned for late 1998 and output is expected to peak at about 35,000 bpd by 1999. The total cost of the project is estimated to be in the region of $ 300 mm. The field was discovered in 1990 by Fina and Conoco. In 1993, British Petroleum (BP) acquired Conoco's interest and it now operates the field with a 70 % stake. Petrofina owns 30 %.

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