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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (58718)	1/19/2000 1:45:00 PM
From: The Ox	Respond to of 95453

Triton Energy Plugs Africa Drilling .c The Associated Press DALLAS (AP) - Triton Energy Ltd. plans to step up drilling at a major oil find off the west coast of Africa. The Dallas-based energy company said yeserday it was contracting for a second deepwater rig to speed exploration and development drilling at its La Ceiba Field off the coast of Equatorial Guinea. That would allow it to drill up to 10 wells this year, according to Triton president and CEO James C. Musselman. ``The idea of going to two rigs is to accelerate the exploration schedule we have,' Musselman told The Dallas Morning News. In October, Triton announced the oil discovery in the La Ceiba Field, and estimated there were reserves of 300 million to 500 million barrels. The first well lies 22 miles from the coast, and the second a mile away from the first. Last week, the Equatorial Guinea government approved Triton's plan for first-phase production of 52,000 barrels of oil a day, with four wells producing oil by the end of 2000, according to The News. The company said it planned to use a floating production vessel to store up to 2 million barrels of oil, with the ability to process and ship 60,000 barrels a day. Triton owns an 85 percent working interest in Ceiba's licenses, with the remaining 15 percent held by South Africa-based Energy Africa Ltd. AP-NY-01-19-00 1338EST