North Sea Chestnut Development Gets Govt OK

Venture Production, the Aberdeen-based independent oil and gas production company, announced Thursday on behalf of its partners that the U.K. Department of Trade and Industry has given its approval for the development of the Chestnut oil field in the central North Sea.

Estimated total recoverable reserves for the field amount to between six and nine million barrels, with first production from the field scheduled for the second half of 2007.

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