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Groningen field to produce gas for another 50 years

06/22/2009
By Uchenna Izundu
Supergiant Groningen natural gas field in the northern reaches of the Netherlands will continue to produce gas for at least another 50 years, according to Roelf Venhuizen, managing director of Nederlandse Aardolie Maatschappij BV (NAM).NAM, a joint venture of Royal Dutch Shell PLC and ExxonMobil Corp., operates the field, which has so far produced 1,700 billion cu m of gas since first starting production in 1963. To date, Groningen's reserves are 60% depleted and it holds 1,000-1,100 bcm of gas still to be recovered.Groningen underpinned the development of a gas market in northwest Europe. Speaking at the 50th anniversary celebrations in Groningen, Venhuizen said the company has drafted a...
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