RNS Number : 8676H
  Venture Production plc
  11 November 2008
   

    11 November 2008


    VENTURE PRODUCTION plc

    Kittiwake Platform Shutdown 

    Venture Production plc ("Venture" or "the Company"), the Aberdeen headquartered UK independent oil and gas production company, today
announces that following the sighting of an oil sheen near the Kittiwake Platform on Thursday 6 November, an investigation into the possible
sources of the sheen is being undertaken. Although the source of the sheen remains unconfirmed, as a precautionary measure the Kittiwake
facilities have been shut down since the afternoon of 6 November and will remain so until the source of the sheen has been identified. At
the time production was shut-in the Kittiwake platform was producing approximately 8,000 barrels of oil equivalent per day ("boepd") net to
Venture's 50% working interest.

    Venture as Platform Operator and Petrofac Facilities Management as Duty Holder are working closely with DECC (Department of Energy and
Climate Change) to ensure that steps taken to identify possible sources of the sheen are performed in a timely manner and to an agreed
process. The basis of this process is contained within the already agreed GKA (Greater Kittiwake Area) Oil Spill Contingency Plan (OSCP).
All actions are designed to limit and mitigate environmental risk.

    By way of general update on its business, Venture will issue an Interim Management Statement on Wednesday 12 November. The Company will
also give a Capital Markets Day presentation on its gas business at 2.30pm on the same day. A copy of the presentation will be available on
the Company's website (www.venture-production.com) immediately afterwards.

    ENDS
    Contact

    Mike Wagstaff, Chief Executive
    John Murphy, Chief Operating Officer                                 01224 619 000

    Patrick Handley, Brunswick                                                 0207 404 5959
    John MacDonald, Weber Shandwick    (Scottish Press)       01224 806 600

This information is provided by RNS
The company news service from the London Stock Exchange
 
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